Superfinanciera sanctions Bancolombia after repeated failures in its digital banking

The Financial Superintendence of Colombia imposed a sanction of $500 million on Bancolombia SA for the effects caused to millions of users during the fall of its digital channels on June 3, 4 and 5, 2024. The resolution, signed by the delegate for the Monitoring of Conduct of Monitored Subjects, Liliana María Sánchez Villamil, indicates that the banking entity incurred alleged breaches of the principles of fair treatment, due diligence, transparency and true, sufficient and timely information. Of interest: Comptroller’s Office warns that investment in Catatumbo continues to be insufficient in the face of the crisis “Bancolombia SA is imposed […] the sanction provided for in the final part of the National Treasury in the amount of five hundred million pesos ($500,000,000.00)”, indicates the document, dated June 27, 2024. The resolution also establishes that “against this decision, the appeal for reconsideration proceeds before the Financial Superintendency of Colombia, within ten (10) business days following its notification”, and orders its publication on the official website of the entity. A This sanction is added to another fine imposed on October 6, 2025 for 124 million 217,000 pesos, related to deficiencies in the information provided to financial consumers. In that case, the Superfinanciera concluded that Bancolombia did not comply with the obligation to provide clear, sufficient, timely and truthful information, in accordance with the provisions of article 11.2.1.4.10 of Decree 2555 of 2010, the article. 3 of Decree 2399 of 2019, and articles 208 and 211 of the Organic Statute of the Financial System. The file also cites article 29 of the Political Constitution, which guarantees due process, and article 94 of Law 222 of 1995, which requires the publication of sanctioning resolutions on the institutional website Failures, services and sanctions. The Superfinanciera warned that these decisions are part of the monitoring. to the obligations of the monitored entities in terms of financial consumer protection. New sanctions are not ruled out for similar failures presented during the year. Let us remember that, last Friday, October 24, the applications and digital channels of Bancolombia and Nequi presented failures that affected the transactions of thousands of users throughout the country. More news: “Turn off the light and get down on the ground”: the fear that teachers experienced during the attack in Potrerito. consultations, which generated setbacks in working and commercial hours. After the incident, Bancolombia announced automatic compensation for users whose products or services were affected. The measure, officially announced on Sunday the 26th, will be carried out under the motto “Trust is returned” and seeks to repair unjustified charges derived from the interruption. That is why we decided to return what corresponds to them and do so automatically, without them having to file claims,” the entity indicated.

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