SSNF Sanctions

The Superintendency of Non-Financial Subjects imposes fines of USD 5,000.00 for non-compliance with the obligation to register with the SSNF, established in Article 44 of Law 124 of January 2020, in accordance with the “THIRD” paragraph of Resolution No. S-010-2021 of December 2, 2021.

It is important that non-financial obligated entities are aware of their responsibilities and stay up to date on the relevant legislation. Registration with the SSNF is not only an essential requirement, but also a measure to act responsibly in mitigating risks related to money laundering, financing of terrorism and financing of the proliferation of weapons of mass destruction.

Following these regulations is crucial to avoid sanctions and contribute to a safer business environment aligned with the best international practices for preventing money laundering and terrorism financing. The SSNF will continue to supervise and audit the non-financial sector to detect non-compliance and ensure that all entities adhere to the established regulations.