According to the statistics of the Financial Superintendence, during 2022 eight cases of massive and illegal capture of public resources have been detected and ordered to be stopped. As for the number of cases, the figure more than doubles those that were presented and ordered suspended in 2021, when there were three cases.
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And although there are four months left to end the year, the amount of resources involved already amounts to $18,000 millionis, when in 2021 the total figure was $14,000 million.
However, compared to the number of people affected, in 2021 these reached 4,800 and so far this year the figure is 865.
According to the Superfinanciera, part of the explanation may be due to the fact that this year illegal capture exercises of legal companies in construction projects involving significant amounts were stopped.
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Likewise, another of the activities in which the Superfinanciera intervenes is in the promotion that natural or legal persons carry out in Colombia of foreign firms or platforms that offer services or products of the stock market and/or Forex without complying with the requirements established in the country for this purpose and that may well be from companies legally constituted abroad but that have not requested their authorization in Colombia from the Financial Superintendent or whose real location is not known, in which there is not even certainty as to where they are located. could claim in case of losses and it is unknown if there is a control authority over it.
In recent years there have been notorious cases of promotion of insurance or life annuities abroad, investment in currency trading (forex market) or crypto assets.
The Financial Superintendent for unauthorized promotion of firms that carry out Forex market operations has imposed two measures this year to curb this type of advertising, while last year it imposed measures in six cases.
In general, the regulations indicate that products or services such as investments in the stock market or Forex of foreign entities can only be promoted to residents in Colombia through representative offices in Colombia that are authorized or by signing contracts of correspondent with commission firms or financial corporations.
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What is illegal recruitment
According to the entity, in the configuration of the crime of illegal mass recruitment there are THREE main elements: that liabilities are assumed with more than 20 people without providing in exchange for the delivery of a good or service and that the resources obtained exceed 50% of the liquid assets of the illegal recruiter or that the offer to capture is made to unnamed persons.
When classifying the illicit conduct of illegal recruitment, it is enough that liabilities are assumed with more than 20 people and one of the other two conditions is met.
And the performance of the Superfinanciera in all cases in which it imposes measures for illegal deposits, there is a development in which entities such as the Superintendence of Companies and even the Attorney General’s Office intervene.
The Financial Supervision recommends that entities authorized to carry out financial activity are available on its website in the supervised industries section, not to deliver money as a prerequisite for a loan to be disbursed, to be suspicious of investments where they promise unusual returns, to be very well informed about of the risks of investing in Forex and virtual assets and above all that whoever receives the resources is legally authorized to do so.
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