Colombia: Financial Sector Assessment Program-Detailed Assessment Report on Anti-Money Laundering and Combating the Financing of Terrorism

IMF Staff Country Reports, November 15, 2018

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Canonical URL: Colombia: Financial Sector Assessment Program-Detailed Assessment Report on Anti-Money Laundering and Combating the Financing of Terrorism

Publication date: November 15, 2018
This report provides a summary of the anti-money laundering/combating the financing of terrorism (AML/CFT) measures in place in Colombia as at the date of the onsite visit (June 5 to 22, 2017).
It analyzes the level of compliance with the Financial Action Task Force (FATF) 40 Recommendations and the level of effectiveness of Colombia’s AML/CFT system.
The report provides recommendations on how the system could be strengthened.

Subject areas: Anti-money laundering and combating the financing of terrorism (AML/CFT), Crime, Currencies, Drug trafficking, Legal support in revenue administration, Money, Revenue administration
Keywords included in the report metadata: alternative measures, Anti-money laundering and combating the financing of terrorism (AML/CFT), Caribbean, Central America, CR, Currencies, drug trafficking, Drug trafficking, financial institutions, foreign currency, Global, ISCR, judicial police, Legal support in revenue administration, ML case, ML investigation, private sector, TF offense, TF risk

Onsite visit period used for assessment: June 5 to 22, 2017
Framework for assessment: Compliance with the Financial Action Task Force (FATF) 40 Recommendations and evaluation of system effectiveness

The report includes:
- A summary of AML/CFT measures in place in Colombia as of the onsite visit dates.
- An analysis of compliance with the FATF 40 Recommendations.
- An assessment of the effectiveness of Colombia’s AML/CFT system.
- Recommendations aimed at strengthening the AML/CFT system.