The UIAF, which is the Colombian money laundering watchdog, has postponed the date on which exchanges and individuals must start reporting their transactions to the organization. The institution will now open a consulting period in which companies and individuals can present their thoughts regarding the proposed regulation, which might be modified before its application on June 1st.The exact reasons behind the delay were not specified in the document, but the new resolution that establishes the postponement states: In order to ensure that the submission of reports to the UIAF is complete and meets the information needs of the entity, the need to extend the reporting start date was considered.
