The Colombian Superintendency of Companies recently confirmed a $30.403.200 COP fine against the colombian branch of a foreign construction company. Representing around USD 7,440, the penalty was issued as the result of a failure to comply with the local regulation regarding the prevention of money laundering (known as SAGRILAFT).
In addition, the Superintendency ordered that the sanction be read at the next meeting of the highest corporate body.
With this sanction, the authority reiterated their intention to strengthen its efforts to ensure the proper implementation of anti-money laundering compliance programs in all regulated companies.
Source: link.
