Latin America · GDP rank #23
Argentina
AR · ARS @ 0.0007140/USD
Two years into Milei-era reform, inflation has fallen from 211% (Dec 2023) to roughly 32% YoY (Apr 2026), the parallel-FX premium has collapsed, and the payments landscape is a three-way contest between Mercado Pago's incumbency, MODO's bank consortium, and a USD-stablecoin retail economy that has reached the second-largest per-capita base globally.
Tab 06
Fraud & security
Headline fraud totals and typology splits, the rollout of EMV chip, tokenisation, 3DS and biometrics, and the controlling data-protection and payments statutes.
Annual fraud losses
ARS · 2024
Loss rate
basis points on transaction value · 2024
CNP share of fraud
% · 2024
Fraud typology
Where losses come from
Card-not-present dominates every developed-market fraud profile — counterfeit and lost/stolen have both been mechanically suppressed by EMV and tokenisation over the last decade.
Share of card fraud
- Authorised push-payment (WhatsApp scam vector)42%
- Account takeover28%
- Card-not-present23%
Authentication
What's deployed on cards today
EMV is the floor; tokenisation removes PAN from merchant systems; 3DS covers the CNP flow; biometric auth drives device-level wallet transactions. Adoption gaps between markets are the clearest signal of fraud-regime maturity.
EMV chip penetration
% · 2024
Tokenised transactions
% · 2024
3DS coverage · CNP
% · 2024
Biometric mobile wallet txns
% · 2024
Consumer protection
- Framework
- Ley de Defensa del Consumidor (24.240) + BCRA payment-system rules
- Liability rules
- Card unauthorised transactions: cardholder liability capped after report; APP-fraud is largely unreimbursed though BCRA published guidance in 2024 encouraging wallet operators to adopt voluntary reimbursement frameworks.
Source · Agencia de Acceso a la Información Pública
Security standards
- ▌BCRA Comunicación A 7908 — Cyber Resilience (CPMI-IOSCO aligned)
- ▌PCI DSS 4.0
- ▌Ley 25.326 — Personal Data Protection (CPPA-equivalent draft in Congress)