Corruption in Argentina
Argentina has long suffered from widespread and endemic corruption. Corruption remains a serious problem in the public and private sector even though the legal and institutional framework combating corruption is strong in Argentina.A 1996 New York Times article noted that “payoffs, kickbacks and government corruption are considered part of everyday life” in Argentina. Bribery and fraud are also found common among the private sector, and the lack of transparency in government regulations and laws has triggered an increased uncertainty among investors.Transparency International ranked Argentina 106th out of 177 countries surveyed for its 2013 Corruption Perceptions Index. They commended Argentina, however, for a law enacted that year that recognizes money laundering as a felony in and of itself and that prescribes substantial punishments for same. The Financial Action Task Force removed Argentina from its “gray list” in October 2014, noting significant progress made by the country in improving its legislation and procedures against money laundering and illicit financing.