Colombian Regulator Coljuegos Joins Forces with Asojuegos for Anti-Money Laundering Initiative
Published August 29, 2023 by OCR Editor
Coljuegos, the Colombian gambling regulatory body, has recently partnered with the trade organization Asojuegos. The collaboration aims to jointly tackle anti-money laundering (AML) issues in Colombia's gambling market.
In a significant move to curb illegal financial activities, Colombia's Coljuegos has teamed up with Asojuegos, a leading industry trade organization, for a project called "Pacts for Legality." This initiative focuses on anti-money laundering efforts in the country's gambling sector. Both organizations aim to fight, detect, and prevent money laundering and financing of terrorism through various gambling activities.
Asojuegos has pledged to encourage its members to support this campaign actively. The organization is also committed to collaborating closely with Coljuegos to ensure the campaign reaches its full potential in combating money laundering and related issues.
Coljuegos President Marco Emilio Hincapié emphasized the importance of management practices by licensed operators in making this initiative successful. Such practices would ensure "both efficiency and transparency" in their Colombia-facing operations, Hincapié noted. The president also indicated that Coljuegos is keen to establish similar partnerships with other groups to strengthen the impact of the AML campaign.
The objective is clear: to fight unitedly against illegality for the benefit of the health of Colombians,
said Hincapié. Juan Carlos Restrepo, the president of Asojuegos, further highlighted the urgent need to intensify the fight against illegal activities, stating,
This can hurt the health of Colombians and the business fabric worldwide of games of luck and chance.
This partnership is not Coljuegos' first step in combating illegal gambling activities. In June, the regulatory body carried out raids against unauthorized gambling operations in Colombia's Risaralda and Quindío regions. These operations led to the seizure of 159 illegal gambling machines, including 55 electronic slot machines, four sports betting modules, and 100 bingo chairs.
Earlier this year, the Colombian Federation of Entrepreneurs of Games of Luck and Chance (Fecoljuegos) partnered with the International Betting Integrity Association (IBIA) to develop a betting integrity framework. This previous partnership aimed to combat sports-related fraud and uphold sports integrity in the country.
Through these combined efforts, Coljuegos and its partners are taking a multi-pronged approach to ensure a safer, more transparent gambling environment for Colombians and the industry.
