Buenos Aires City Lottery signs anti-money laundering agreement

Lotería de la Ciudad de Buenos Aires (LOTBA) and Banco Ciudad have signed a cooperation agreement to reinforce the prevention of money laundering and terrorist financing.

Jesús Acevedo, President of Lotería de la Ciudad, led the signing, joined by Ezequiel Domínguez, Director and compliance officer at LOTBA; Eva Frontera, Secretary General; and Carolina Galtieri, Head of the lottery’s Money Laundering Prevention Unit (UPLAFT).

Banco Ciudad was represented by Patricio Értola, Manager of Money Laundering Prevention, and Mauro Rubén Pilla, Coordinator of the bank’s public relations area.

The agreement establishes technical and institutional cooperation to exchange experiences and best practices, run training activities and develop tools and analysis criteria linked to the prevention of financial crimes. Both organizations will also work on typologies and coordinate with specialized bodies, including the Financial Information Unit (UIF), to strengthen their capacity to prevent, monitor and detect suspicious transactions.

Acevedo said: “Faced with increasingly complex criminal methods, it is essential to have adequate tools, ongoing training and spaces for cooperation among the different agencies that make it possible to strengthen prevention and detection mechanisms.”

Értola added: “Collaborative work among obligated entities in different but closely linked activities, such as the financial system and the gaming industry, is key to the early and coordinated detection of criminal schemes.”

The signing took place during the Money Laundering Prevention Week run by LOTBA, an initiative promoted by UPLAFT to strengthen a culture of integrity, transparency and compliance within the organization and across its network of institutional partners. 

The week included a new virtual training course for lottery agents on preventing and detecting money laundering schemes, along with awareness activities for LOTBA staff. It also featured training sessions and exchanges with the UIF and the Instituto de Ayuda Financiera a la Acción Social (IAFAS) of Entre Ríos.

LOTBA also received the Level 1 Certification Seal from CIBELAE, which recognizes compliance with technical standards on the prevention of money laundering and terrorist financing.