The entities monitored by the Financial Superintendence, such as banks, financing companies, financial cooperatives, insurance companies, pension funds and severance, fiduciary, stock exchangeists, among others, They must refrain from restricting consumers access to the provision of financial products and services.
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According to the entity, after a request from the Constitutional Court in Judgment T-13 of March 28, 2025, which pronounced itself on the application of SARLAFT policies (asset laundering risk management system and terrorism financing) He issued the external circular 10 of August 28.
The Superfinanciera determined that entities cannot apply automatic restrictions for the access of financial consumers to the provision of products and services, “based exclusively on the existence of criminal records or ongoing criminal investigations, without having performed an individualized analysis of their risk profile of the/FT (money laundering and terrorist financing).”
Anyway, warn that They must identify the individualized risk profile of the financial consumer/FT, as well as the level of risk exposure that it represents for the entity.
Financial Superintendence.
Courtesy
“For this purpose, entities can evaluate the nature of the criminal type or a criminal record, their age, their relationship with the product or service to be hired, economic activity, as well as any other factor that allows them to determine the level of risk exposure and when the entity deems it necessary, it may request additional information to determine the risk profile.”
Thus, the entities monitored They must apply the measures that allow them to manage the risk without deriving in automatic exclusions or disproportionate.
See, in addition: the three challenges that the financial system has to prevent money laundering
Holman Rodríguez Martínez
