On October 4th, the Colombian Superintendence of Companies issued External Circular 100-000004, a new regulation aimed at improving Anti-Money Laundering practices.
This circular introduced some key changes, including a requirement for Chambers of Commerce and Non-profit Organizations (ESAL) operating in Colombia to establish an Anti-Money Laundering System (SAGRILAFT), report suspicious transactions to the UIAF, and implement Transparency and Business Ethics Programs (PTEE) through Self-Control and Management of Corruption and Transnational Bribery Risks. These changes mean that more companies are now obliged to follow these rules.
For foreign Chambers of Commerce and ESALs under the oversight of the SuperSociedades, compliance with SAGRILAFT and PTEE is mandatory by August 31, 2024. These updates are part of an ongoing effort to make anti-money laundering regulations more comprehensive and accessible.
Original source in Spanish.
