GAFILAT Coljuegos. Based on FATF (International Financial Action Task Force) recommendations, Coljuegos has issued a new resolution that establishes requirements for the adoption and implementation of SIPLAFT (System for Prevention and Control of Money Laundering and Terrorist Financing), and the regulations include improvements related to the follow-up of binding lists for Colombia on financial sanctions, final beneficiary definitions, suspicious operations and identification of politically exposed persons.
These developments are due to the commitment of the entity for an honest sector, together with implementation and adoption functionalities of both risk management systems against money laundering and terrorist financing, as well as better practices and regulatory strengthening. it will be evaluated by the FATF in 2017.
(READ SO POSITIVE POSITIONING PROJECTS FOR THE INDUSTRY IN 2017)
These commitments made by the regulator, Coljuegos, come hand in hand with the important evaluation of the national ALA / CFT-FPADM system (Anti-Money Laundering System, Against the Financing of Terrorism and the Financing of the Proliferation of Weapons of Destruction Massive); Whose evaluation will take place within the framework of the 4th Self-Assessment Round of the Financial Action Group of Latin America (GAFILAT).
The review of systems and mechanisms to institute ALA / CFT prevention systems will seek to assess the technical compliance of the 40 FATF Recommendations and the effectiveness in terms of implementation of the 11 Immediate Results.
The results will be a trigger for the country's economic future in the international arena, as well as the effect this will have on its image as a nation. Colombia on this case.
