In a strategic effort to professionalize the Colombian gaming sector, Coljuegos has entered into high-level discussions with the Financial Superintendent of Colombia, César Attilio Ferrari.
The objective is to dismantle the banking barriers that have long prevented licensed gambling firms from accessing standard financial services.
Educating Compliance Officers
A primary hurdle for Colombian operators is the “unjustified stigma” from traditional banks, which often view the gaming industry as high-risk regardless of its regulatory status.
To combat this, Marco Emilio Hincapié, President of Coljuegos, has announced specialized workshops for bank compliance officers. These courses will familiarize financial institutions with the rigorous SARLAFT protocols that licensed operators must already follow.
Marco Emilio Hincapié outlined the mission’s ultimate goal:
“Everything we do now is aimed at ensuring better guarantees for the work of authorized operators in the country. We need to eliminate the negative attitude of banks towards an industry that significantly contributes to the financing of healthcare. It is necessary that banks understand the fact that operators, authorized by us, comply with all the required criteria. We will facilitate the process for the financial sector in working with gambling operators’ requests.”
Zero Tolerance for Illegality
While the initiative seeks to empower authorized firms, it simultaneously tightens the noose on the black market. Coljuegos and César Attilio Ferrari are coordinating with judicial authorities to block the payment systems used by illegal platforms.
“We are determined not to tolerate illegal platforms’ use of financial channels to conduct activities. Together, we will undertake strong measures to stop this trend, which hampers our goals of supporting healthcare and protecting players.”
By bridging the gap between gaming regulation and banking oversight, Colombia is working to ensure that its regulated sector can operate with the same financial legitimacy as any other major industry while cutting off the lifeblood of unlicensed offshore competition.
