Money laundering crime has dangerous threats for countries. The basis of money laundering is based on several important crimes. Revenues from serious and important crimes such as drug trafficking, human trafficking, corruption and bribery are hidden through various money laundering processes. As a result of money laundering, criminals cannot be punished. Thus, they grow crime organizations and increase criminal activities and commit more significant crimes.
Colombia has been battling smuggling of heroin and cocaine since the past. The Colombian government is running a multi-faceted fight to prevent drug trafficking. Except for operations against drug traffickers, The Colombian Governments are working to prevent money laundering of criminals with AML regulations. Colombia is among the countries struggling effectively with money laundering.
The Financial Intelligence Unit of Colombia is the competent authority established to prevent Colombia's financial crimes. The Financial Intelligence Unit of Colombia examines unusual financial transactions and reports then detect whether it contains criminal activity. UIAF operates under the Ministry of Treasury and Public Credit.
• Detecting and preventing money laundering and terrorist financing transactions by examining economic activities.
• Collecting and analyzing reports from financial institutions.
• Reporting to the Finance, Tax Office and Prosecutor's Office, if necessary.
• Carrying out studies on AML and making suggestions.
• Supporting and promoting AML-related government policies.
• Development of new policies on AML.
• Providing organizations with advice on AML.
• Representation of Colombia in international Anti-Money Laundering forums.
• Announcement of Colombia's international achievements in the field of AML / CTF.
• Ensuring compliance with international AML regulations.
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