Colombia’s financial regulator sent a letter asking for “more cooperation” at the counters of the legal representatives of banks, brokers, insurers, cooperatives and all companies and organizations supervised by the financial authority.
In a few words, the document, signed by the head of the financial superintendence Cesar Ferrar, aims to access information of any person without a court order, pointing out that certain crimes can be avoided by this action “so requires their response diligence, opportunity and directness”.
In addition, the circular emphasizes the importance of the quality of the information held, “and the confidentiality of the data is transferred to the requesting authorities or organizations, for their exclusive use, in accordance with their legal duty.”
In this sense, the supervised entities were asked to designate an officer who takes on the role of liaison with the declared authorities or organizations and prepares an institutional email.
The information must be communicated to the authorities, as requested by the superintendent, and continuously updated to assist them through a secure channel, taking into account the protocols established by each authority for this purpose.
Ferrari stressed in the letter that the supervised entities should be primarily alert to “cooperating with judicial authorities, administrative authorities, agencies, agencies and duly authorized personnel carrying out intelligence or counterintelligence activities, in response to the requirements of information provided in the field of security and national defence.
Source: El heraldo
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
