Mexico, Argentina tighten financial controls

Update, August 21, 2026: In Argentina, the BCRA added Communication A 8461/2026 to its existing regulatory framework and tied it to changes in the Monthly Accounting Reporting Regime. In Mexico, the SHCP and the CNBV published new rules that require banks to adapt biometric verification within 90 business days.

The Central Bank of the Republic of Argentina published Communication A 8461/2026, while in Mexico the Ministry of Finance and Public Credit, together with the National Banking and Securities Commission, introduced new biometric verification rules for banks and financial institutions. In both cases, the measures update regulatory controls, with changes to the BCRA’s accounting regime and new identification requirements for Mexico’s banking system.

What did the Central Bank of the Republic of Argentina publish?

Argentina’s Official Gazette recorded BCRA Communication A 8461/2026, dated 07/27/2026, as a new rule in force within the agency’s regulatory framework. According to the official notice, the measure applies to financial institutions.

The Official Gazette also says Communication A 8461/2026 is intended to adjust Section 4, "Market Risk," of the Monthly Accounting Reporting Regime, CONAU Circular 1-1731. The rule took effect in August 2026 and aligns with changes stemming from Communication A 8394 on minimum capital requirements and capital integration.

Specialized Argentine media also noted that Communication A 8461/2026 is part of a series of new BCRA Communications, including 8461 and 8462, which update accounting reporting and minimum capital requirements, reinforcing the link between prudential reporting and capital rules for financial institutions.

What changed in Mexico for the banking system?

In Mexico, new provisions published in the Official Gazette of the Federation require the banking system to adapt biometric verification processes within a maximum of 90 business days from entry into force. The measure was promoted by the Ministry of Finance and Public Credit and the National Banking and Securities Commission.

Coverage from Imagen Radio said the rules establish facial biometrics as the official verification method to complement fingerprint authentication at financial institutions. They also set a minimum 90% match threshold against official databases such as INE and SRE.

Where could biometric implementation move next?

Imagen Radio also said the biometric rollout could migrate to ABIS systems to process large data volumes and detect duplicate identities within the financial system.

What AML and KYC obligations do fintechs have?

In parallel, Digid México said that customer due diligence and anti-money laundering obligations for financial technology institutions are based on Article 58 of the Law to Regulate Financial Technology Institutions and CNBV general provisions on AML/CFT, with a direct impact on customer identification and verification processes and information security.

What happens if an ITF uses an outside biometric vendor?

That same analysis added that when an ITF hires an outside provider to manage official ID images or user biometric data, it must obtain prior authorization from the CNBV or Banxico before integrating it, an additional operational requirement for digital onboarding.

What do the rules require to operate as an IFPE or IFC?

Next Guard Insurance said that, to operate as electronic payment funds institutions or collective financing institutions under CNBV supervision, the General Provisions applicable to Financial Technology Institutions require a formal security policy approved by the board, an annual technology risk management program, business continuity and disaster recovery plans tested periodically, multifactor authentication for privileged access and sensitive transactions, encryption in transit and at rest, reporting of material incidents, formal management of critical third parties, and insurance to protect client funds and civil liability.

What changed in the LFPIORPI?

KPMG Mexico also circulated a brief on the reform to the general rules under the LFPIORPI, saying due diligence and KYC measures must be proportionate to risk and that clients or users must be classified by risk level, with enhanced measures for high-risk cases. Infobae Mexico reported, in addition, that the Ministry of Finance published new LFPIORPI rules in the Official Gazette and said the reform will be applied gradually, strengthening Mexico’s national anti-money laundering regime and also affecting vulnerable activities related to credit outside financial institutions.