Colombia
Regulatory framework
Introduction
Colombia, like other countries in its environment, also embraces in its regulatory framework provisions on prevention of money laundering and terrorist financing.
Among these, the Law 1762 of 2015 stands out among others.
Financial Intelligence Unit
Colombia also includes within its institutional structure the figure of the Financial and Economic Analysis Unit. The Financial Information and Analysis Unit is based on prevention regulations to exercise its functions in the entire Colombian territory.
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Obligated subjects
The legal framework of Colombia in the prevention of money laundering and terrorist financing institutes certain individuals and entities as obliged subjects based on the economic activity they carry out.
Among these subjects, credit institutions and banks stand out, as well as insurance companies, associations or foundations, and real estate agents
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> PEPs
Introduction
The regulatory framework for politically exposed persons in Colombia is provided by prevention laws and its Regulations for development.
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Definition of PEP
The legal system of Colombia considers as PEP the following:
- President, Vice President, Ministers, Governors, Mayors, Deputies, Councillors and their teams
- Secretaries, Treasurers, Directors and Deputy Directors of Ministries, Public Companies and Superintendences
- Senators, Representatives, Secretaries and Administrative Directors of Congress
- Managers of the Bank of the Republic, Directors of Autonomous Corporations and Public Service Commissioners
- Magistrates, Judges, Attorney General, Comptroller's Office, Ombudsman's Office, and General Audit
- Magistrates of the National Electoral Council and Registrars
- Leaders of political parties and trustees of public resources
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Duration of PEPs
When politically exposed persons have ceased to perform their functions, the obliged entities will continue to apply the measures provided for this type of clients for a minimum period of two years.
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Included lists
PEPs
- Web del Ministerio de Función Pública de la República de Colombia
- Web de la Presidencia de la República de Colombia
- Web de la Cámara de Representantes de la República de Colombia
- Web de la Corte Constitucional de la República de Colombia
- Web de la Asamblea del Departamento de Arauca
- Web de la Asamblea Departamental de Choco
- Web de la Armada de la República de Colombia