Coljuegos vs. Money Laundering in Colombia
Coljuegos, the regulatory authority for gambling in Colombia, is working closely with industry associations to establish a comprehensive strategy to combat money laundering within the sector. This initiative is aimed at strengthening the industry's integrity and ensuring that funds allocated for public health are protected.
At the Eighth National Meeting of Compliance Officers, Coljuegos' president, Marco Emilio Hincapié, stressed the importance of uniting efforts to prevent money laundering. He highlighted the need to focus on preventing, detecting, investigating, and prosecuting money laundering activities that threaten the industry's legitimacy. "We are closing ranks to ensure that organized crime can no longer use gambling revenues to finance their networks," Hincapié stated, underlining the commitment to effective practices and partnerships with companies that prioritize transparency and accountability.
Industry's Commitment to Transparency
Elizabeth Maya, president of the National Corporation of Gambling Entrepreneurs (Cornazar), emphasized the importance of collaboration between the industry and regulatory bodies. She pointed out that compliance officers play a crucial role in managing the risks associated with money laundering and terrorism financing. Cornazar is focused on enhancing interinstitutional efforts to ensure the industry's transparency and to protect the financial integrity of the gambling sector.
Maya also stressed that training compliance officers and implementing best practices are essential steps towards a more transparent and responsible gambling industry.
Advancing the SARLAFT System
Coljuegos is currently working on the implementation of the Risk Management System for Money Laundering, Terrorism Financing, and the Proliferation of Weapons of Mass Destruction (SARLAFT). This system will help identify potential risks within Coljuegos and among gambling operators throughout Colombia. The goal is to create specific regulations that will prevent illegal activities and safeguard the public health funds generated by the gambling industry.
The initiative also received support from international and national organizations, with participation from the United Nations Office on Drugs and Crime (UNODC), the Superintendencies of Finance and Health, the Financial Information and Analysis Unit (UIAF), and other key players in the gambling industry.
Coljuegos' roadmap is a significant step toward establishing a more secure and transparent gambling environment in Colombia, ensuring that the industry operates within legal frameworks while contributing to the nation's public health system.
