ARTICLE · 09 NOVEMBER 2016

Anti-Money Laundering And Terrorist Financing Systems

Brigard & Urrutia

The Superintendence of Companies issued a modification to the Basic Legal Circular which regulated which companies are required to adopt Self-control and Risk Management Systems against Money Laundering and Terrorist Financing.

ColombiaFinance and Banking

Carlos Fradique-Méndez

María Luisa Porto

Self-control and Risk Management Systems against Money Laundering and Terrorist Financing

On August 19, 2016, the Superintendence of Companies issued a modification to the Basic Legal Circular (No. 100-000006), which, among other matters, regulated which companies, according to their economic sector, are required to adopt Self-control and Risk Management Systems against Money Laundering and Terrorist Financing (in Spanish, SAGRALAFT), to the extent that such companies meet all of the following criteria or requirements, per sector:

Sector	Requisitos
Real Estate	Permanent surveillance or control exercised by the Superintendence of Companies
Economic activity registered in the commercial register or activity identified with code L6810 and/or L6820 of the International Standard Industrial Classification, Revision 4 (in Spanish CIIU Rev 4 AC).

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Anti-Money Laundering And Terrorist Financing Systems

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