Coljuegos partners with UNODC to address money laundering and terrorist financing
New measures focus on transparency and accountability in Colombia’s gambling sector.
Key Points
- Coljuegos has partnered with the United Nations to implement strategies addressing money laundering, terrorism financing and other criminal activities in Colombia’s gambling industry
- The initiative focuses on internal controls and monitoring systems at Coljuegos, with plans to expand these measures to gambling operators across the country
Coljuegos, in collaboration with the United Nations Office on Drugs and Crime (UNODC), is working to deal with illegal activities in Colombia’s gambling industry.
The partnership is centred on implementing the Money Laundering, Terrorism Financing and Weapons of Mass Destruction Proliferation Risk Management System (SARLAFT) to establish enhanced controls and safeguards.
The organization is focused on identifying and addressing risks associated with corruption within the industry.
The UNODC’s proposed strategies involve strengthening internal control systems, improving information security and bolstering the role of compliance officers.
These measures will allow Coljuegos to identify and monitor potential risks in real time, aiming to prevent illegal activities.
Good to know: This initiative is part of the 2024 agreement between Coljuegos and UNODC, with the goal of focusing on transparency in Colombia’s gambling sector and ensuring that resources generated add to the country’s healthcare system
Marco Emilio Hincapié, Coljuegos President, stated, “We are working with the United Nations to identify and prevent risks. Our goal is to combat corruption in the sector.
“Therefore, we have also signed legality agreements with various entities, such as the Financial Information and Analysis Unit (UIAF), to ensure transparency in the resources we transfer to healthcare.”
Andrea Agudelo, United Nations Corruption and Economic Crime Unit’s Regional Head, added, “Coljuegos will set an example in the sector by implementing its own prevention system. After that, it will ask gambling operators to also implement these control strategies.
“It is important that Coljuegos officials be able to appropriately incorporate controls that prevent risks of money laundering, corruption and information security.
“The controls we have designed require conceptual ownership so that they can be properly applied.”
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