In many moments, they ask us the SARLAFT form and we do not know what it is or what its usefulness is. It is a document of great importance, almost essential in Colombia to be able to carry out financial procedures.
Here we clarify all those doubts and any others you may have about this documentation. Stay with us!
What is the SARLAFT Form?
SARLAFT are the acronyms for the Risk Management System for Money Laundering and Terrorism Financing.
This form is a requirement made by the Financial Superintendency to control possible illegal activities that take place.
This institution is in charge of avoiding the introduction of resources of doubtful origin or activities related to money laundering or activities that finance terrorism.
In the same way, this institution is the one in charge of detecting and reporting operations that have been carried out or that seek to be carried out to make certain joint operations involving money laundering and / or terrorist financing pass as legal.
SARLAFT Form Format
Then, through an image you can see what the format of the SARLAFT form.
Considerations and Authorizations of the SARLAFT Form
- Personal data is collected by the Superintendency
National Health and the constitutions in charge of Money Laundering and Terrorism Financing.
- According to Law 1581 of 2012, the provisions to protect personal data are not useful for databases and files that have the purpose of this type of procedure, so in principle its application would not require an authorization from its owner.
- The consultation of the owner on the lists and / or databases that allow to prevent any illicit act, is ensured as a regular process.
- SIGNATURE AND FOOTPRINT: It is stated that the owner has not been declared legally responsible for the commission of crimes against the Public Administration or that is detrimental to the State’s assets or, for crimes related in any way, to drug trafficking or similar.
- When the authorized institution considers it necessary, the contractual link will be terminated unilaterally and immediately, when the provider, EAPB or another have some link with crimes such as: drug trafficking, financing of terrorism, terrorism, money laundering, front man and / or or drug trafficking.
- Declaration of Origin of funds.
The owner ensures that:
- The trade, profession or activity that you have as a natural or legal person, is exercised within the legal framework and the resources it possesses do not come from illegal activities contemplated in the Colombian Penal Code.
- The information found in this document is true and verifiable and undertakes to update it annually.
- The contract may be unilaterally revoked by failing to comply with any of the obligations imposed on the Integrated Subnet of Health Services South ESE
The resources derived from this contractual relationship will not be used to finance terrorism.
How to fill out the SARLAFT Form?
It is simple and fast as long as you laugh at the policies of the SARLAFT:
- The document must be processed exclusively by the client.
- It is a requirement processed in black ink, clear and legible handwriting. Inconsistencies could lead to the form being returned, so it is best to ensure that you do not cross out or amend any information.
- You should not leave blank spaces. Therefore, in the sections where you do not copy any information, mark a horizontal line or write, for example, «not applicable».
- If it is the case that you do not have the requested information, please confirm this in the corresponding space.
Now, let’s go on to detail the correct filling of the SARLAFT form. In this document there are several parts:
- In this part, there is the form number. The data is provided exclusively by the official of the insurance company.
- Next, the branch that is the office in which you are carrying out the procedure.
- Then, the date that corresponds to the day you are processing the form.
- In the «Kind of relationship» option, it is indicated what relationship there is with the company, whether it is policyholder, insured, bonded or beneficiary.
- Finally, the existing links are selected from those mentioned above. These links can be commercial, family, work or other if none of the above applies.
The SARLAFT Form only for natural person.
- Names and surnames must be added that match the data of the identity document presented. You must indicate the code corresponding to your economic activity (ISIC).
- Subsequently, detail the profession, occupation or trade, area or position held, name of the company where you work, city, address and telephone number of the same.
If there is no employment relationship, this information does not apply.
- Next, you will find the space for personal data such as: landline and cell phone number, city and address.
- To conclude this part, the following questions are asked:
* Is there a link between you and a person considered publicly exposed? (Specify what are the links or responsibilities if the answer is yes)
* Do you handle public resources due to your position or your activity?
* In another country or group of countries, are you subject to tax obligations?
* Are you recognized public General motivated to his activity or trade?
SARLAFT form for legal entity.
- The company name or company name must match the information provided in the RUT.
- It must include the personal data of the legal representative (names and surnames, type of identification, number, date and place of issue). They must be obtained according to the Certificate of the Chamber of Commerce and / or the RUT.
- It is necessary to provide the address, city, telephone and / or fax of the main office and agency involved in the process.
- Select the type of company to which it belongs, according to the legal nature, be it public, private or mixed.
- Similarly, it must be detailed what type of economic activity or ISIC the holder is engaged in.
- Finally, it is necessary to identify the associates or shareholders who have, directly or conversely, more than 5% of the contribution or participation of the company and its share capital.
- Information related to the owner’s finances and activities in international operations (annual income and expenses, assets and liabilities of the aforementioned) is added.
- As a natural person, an approximate calculation must be made for each item based on the date on which the procedure is carried out. On the other hand, as a legal entity, the information pertinent to the data of the last accounting closing must be provided.
- Describe specifically the product and the institution through which the payments are made, only if they are activities in international operations.
- At this point it is indicated if, in the last two years, any claim or receipt of insurance compensation has been filed. If the answer is affirmative, indicate year, value, company, compensation and / or claim.
What is it for?
This documentation works as proof of the owner’s personal data.
In it, the sources of the resources it dominates are declared, be these occupations, businesses and trades. The origin of the owner’s income is also mentioned.
With the signature of the natural person or legal representative, the reading, understanding and acceptance of the foregoing is recorded. Likewise, it is declared that the information provided is accurate in all its parts.
Who Issues It?
This document is issued by all entities supervised by the Superintendency of the Solidarity Economy or by the Financial Supervision.
Frequently asked question
Who should be reported red flags?
Who is in charge of receiving the Suspicious Transaction Reports (ROS) evident in the SARLAFT It is the Financial Information and Analysis Unit (UIAF).
To make this report, the certainty of improper acts is not necessary. If a unusual operation, Yes.
Unusual operation is a term that the SARLAFT It defines as any operation that in its characteristics is not related to the economic activities of the clients and in its verification there is no justification or reasonable explanation for that fact.
It should be noted that the Suspicious Operations Report is not the same as a criminal complaint and is reserved according to the law. Whoever makes this report is protected by the «disclaimer» applied by law.
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