After the unexpected departure of the UIAF
director in April 2016, Colombia's FIU has been without a permanent director for most of 2016, creating uncertainties regarding the policies and direction of a key AML institution.
, in addition to regulatory agencies, should develop a mechanism for including prosecutors in its investigations from the start to ensure greater prosecutor participation and prosecutorial utility of the information gathered.
One donor is assisting the central bank to create a strategic analysis division within UIAF
, the financial intelligence unit, and is also helping the UIAF
to strengthen its capabilities to assess the risk of individual financial institutions.
Another project is assisting the central bank to create a strategic analysis division within UIAF
, the financial intelligence unit (FIU), and deepen its capability to assess risk within the financial sector.
, in addition to regulatory agencies, should develop a mechanism for including prosecutors in their investigations from the very start to ensure greater prosecutor participation and that the information gathered will be of use to the prosecutors during their own investigation and prosecution of a case.
Colombian law limited the effectiveness of law enforcement by restricting the disclosure of financial intelligence from Colombia's financial intelligence unit (FIU), the Unit for Information and Operational Analysis (UIAF
), to the Fiscalia only.
While the GOC still should take steps to foster better interagency cooperation, including improved case coordination between the Unidad Aministrativa Especial de Informacion Analisis Financiero (UIAF
), Colombia's FIU, and the Colombian National Police's specialized judicial police units, Colombia stands out as a regional leader in the fight against money laundering and terrorist financing and is a key part of a Regional FIU Initiative.
The financial intelligence unit (UIAF
) released a "Guide to Risky Operations and Alerts Related to Terrorism Finance" (Communication 2012/191), and the AMLS launched its web page.
However, referrals from the Colombian UIAF
(Financial Intelligence Unit) to the public ministry for ML/TF cases substantially decreased in 2011 and therefore prosecutions have decreased as well.