The Director of Colombia’s Information and Financial Analysis Unit (UIAF) has highlighted the agency’s important achievements in the areas of technology and educational resources during the 21st Pan American Congress of LAFTFPADM.
Chief among technological advances was the implementation of artificial intelligence and data analytics models for the development of complex operational networks. These models have significantly contributed to the UIAF’s success in the last four years. Since 2018, the UIAF has released 539 financial intelligence products worth over $50 billion. Another important technological advancement discussed in the meeting was the Statistical Monitoring System, which the UIAF developed and implemented in compliance with FATF Recommendation 33. The objective of this monitoring system is to compile relevant information from different actors in the system, including supervisory entities.
Also discussed in the Congress was the UIAF’s update of the compendium of typologies and the virtual search engine for typologies that the agency developed in 2021. The UIAF Director further emphasized the importance of collaboratively improving the quality of AML information and ensuring a coordination between prevention, detection, investigation and judgment.