Asobancaria technical vice president Alejandro Vera presented proposals for Colombia to improve its 59th ranking in evaluations by the Financial Action Task Force.
At the 25th Pan-American Congress on LAFT/FPADM Risk, Vera stated that the country needs an agile mechanism to freeze accounts and comply with United Nations Security Council sanctions.
He also called for more convictions for money laundering and terrorist financing. In the fourth round of evaluations, Colombia ranked 59th out of 200 jurisdictions.
The fifth round by GAFI and the IMF is scheduled for 2028. Vera emphasized the need to regulate virtual assets such as stablecoins and strengthen transparency on beneficial owners.