FREIGHT FORWARDERS AND THE OBLIGATION TO IMPLEMENT SAGRILAFT ACCORDING TO THEIR INCOME LEVELGrillo Correa S.A.S
WHAT IS SAGRILAFT?
SAGRILAFT is a self-control, prevention, and risk-management system against money laundering, financing of terrorism, and financing proliferation of mass destruction weapons, in other words, it is a system that is enforceable and applicable to a wider number of economic sectors and the noncompliance in its implementation will be sanctioned by the ‘Supertintendencia de Sociedades’ of Colombia. Its objective is to deepen, refine, and improve the efficiency of the supervision system for self-control, management, identification, segmentation, qualification, individualization, and updating of risks related to money laundering and others.
Circular 100000016 of December 24 of 2020, which modifies the tenth chapter of External Circular No. 100-000005 of 22 of 2017 of the ‘Superintendencia de Sociedades’, established the companies that will be obliged to its implementation, being those that by December 31 of the immediately preceding year have reported or obtained total income per year equal or greater than 40,000 current legal monthly minimum wages.
You should also keep in mind
It is also important to highlight that the Superintendence of Companies in Concept 220-220605 of October 5, 2022, reiterated that, with respect to the companies inspected by the Superintendence of Companies, they will not be obliged before this entity to the extent that they are supervised by another entity specialized by reason of their activity and that has the authority to issue instructions on ML/FT/Fpadm matters.
In this sense, it is concluded that the International Freight Forwarders in Colombia, not being supervised, inspected, and controlled by another entity, must abide by the compliance of the Superintendence of Companies in relation to SAGRILAFT to the extent that they comply with the requirements regarding the income for it to be implemented.
Law 222 of 1995 in its Article 86 and Decree 1023 of 2012
According to Law 222 of 1995 in its Article 86 and Decree 1023 of 2012, this entity was empowered to impose sanctions against “those who fail to comply with its orders, the law or the bylaws”, sanctions that will be subject to fines that can be up to two hundred legal monthly minimum wages. Therefore, if you have any doubts and require specialized advice, remember that at GRILLO CORREA CONSULTORÍAS S.A.S., we are ready to assist you virtually and in real-time, to achieve the objectives and recognition that you and your company deserve.
Download the standard available on the internet: https://www.supersociedades.gov.co/documents/107391/161161/Circular+100-000016+de+24+de+diciembre+de+2020.pdf/843e17bf-2a09-8729-046c-a51bf00a88c1?version=1.6&t=1670957113672
By: Dra. Nancy Balaguera