Without a doubt, governments have understood the importance of strengthening companies, since they are the main engine of the economy in the countries, because they generate great benefits for the country and its citizens, such as the creation of more jobs and greater access to products and services, with companies being the main indicator of a country’s development.
However, despite the fact that the countries have achieved greater controls and strengthening of the business sector thanks to the evolution in economic, social, connectivity, innovation and technology matters, it is not a secret that money laundering activities, financing of terrorism and financing of the proliferation of weapons of mass destruction (hereinafter, “ML/TF/FPADM”), are becoming more sophisticated every day, becoming one of the main threats for companies that in their purpose of being competitive, productive and lasting assets are incurred or used for ML/TF/FPADM operations and/or activities.
The foregoing is so because ML/TF/FPADM activities are complicated, critical and high-impact phenomena in the business environment, becoming one of the main threats to companies whether they are from the financial sector or the real sector, since Undoubtedly, these activities allow them to be permeated by criminal groups or unscrupulous persons who seek to introduce resources of illicit origin into the formal economy, in order to pretend to give the appearance of legality to the resources generated from illicit activities, which allow said persons or groups make use of these resources and in some cases obtain profits on them, which allow them to pay for their activities or those of terrorist organizations.
In this sense, these threats are global concerns and not only for certain countries or governments, for which international conventions have been established on the matter, as well as the Financial Action Task Force (FATF), which is an intergovernmental entity. , established in 1989 by the member countries of the G7, with the intention of setting international standards that promote the effective implementation of legal, regulatory and operational measures to combat ML/TF/FPADM and other threats to the integrity of the international financial system for the fight these scourges that affect most countries.
This is why in Colombia, within the National Development Plan, there is the pact for legality that fights, among others, against delinquency and corruption, which encourages the SuperSociedades to establish, update and strengthen the rigor, vigilance , guidelines, regulations and implementation of the ML/TF/FPADM Comprehensive Risk Self-Control and Management System – SAGRILAFT, on certain companies in the real sector, in order to promote and sow a culture of compliance and adequate corporate governance of companies, constituting as the fundamental pillar the timely and early action of suspicious operations that may materialize the Risks of ML/FT/FPADM.
For which, the SAGRILAFT must contain, among other things, a ML/TF/FPADM prevention policy, in addition to a risk management procedures manual, approved by the Board of Directors or, in the absence thereof, by the highest corporate body of the Company. company and clearly assign to whom the exercise of the necessary powers and functions corresponds to the execution of the different stages, elements and other activities associated with this system, called the Compliance Officer. As well as the ML/TF/FPADM risk matrix that allows auditing, evaluating, measuring and observing the evolution of SAGRILAFT.
It should be noted that in Colombia the companies required to implement SAGRILAFT are those that are under the supervision and control of the Superintendency of Companies, or that have income or assets for the immediately preceding year equal to or greater than 40,000 current legal monthly minimum wages, regardless of the sector of the economy to which they belong.
However, regardless of whether they are required or not, the importance of implementing SAGRILAFT in companies in the real sector is to create an internal system in order to avoid being used, permeated or hidden by their counterparts (customers, shareholders, suppliers). , employees, contractors, investors, among others) becoming an instrument or vehicle for the materialization of ML/TF/FPADM activities, since by the simple fact of developing the corporate purpose of the company, they will always be under the threat of being ML/TF/FPADM Risks present or materialize.
Being then the SAGRILAFT, in one of the most important inputs for a company in the knowledge of its clients, shareholders, suppliers, employees, contractors, investors, as well as with anyone with whom the company intends to create commercial, corporate, financial and contractual, in the understanding that, regardless of whether or not they are obliged to implement it, in the event of the eventual materialization of ML/TF/FPADM Risks, it will possibly lead to the occurrence of operational, legal, reputational and contagion risks. , among others, that affect the results of the company, its good name, loss of clients, criminal and administrative sanctions, inclusions in international and national lists, that block it from commercial, corporate, financial and contractual relationships, with entities that manage the ML/TF/FPADM risk, and/or productivity and continuity, derived from the decrease in income or certain rre definitive of the company.
If you are interested in learning and understanding SAGRILAFT, we recommend you consult:
- Basic Legal Circular – Chapter X Self-control and Comprehensive Risk Management ML/TF/FPADM and Report of Suspicious Operations to the UIAF issued by the Superintendency of Companies.
- Access the virtual course made available by the Superintendency of Companies on: “Fight against money laundering, the financing of terrorism and the financing of the proliferation of weapons of mass destruction – ML/FT/FPADM”, at the following link: https://www.supersociedades.gov.co/delegatura_aec/Paginas/index-LAFT.aspx
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