Digital transformation to prevent risks such as money laundering

In order for companies to carry out increasingly reliable, transparent and secure businesses, it is necessary to correctly manage and prevent risks of money laundering, financing of terrorism and financing for the proliferation of weapons of mass destruction (LA/FT/FPWMD ).

Currently, there are companies obliged to establish a  Comprehensive LA/FT/FPADM Risk Self-control and Management System , which implies the identification of their own risks and the analysis of their exposure to them, contemplating factors such as geographical areas where they operate, their counterparties and final beneficiaries, among other relevant aspects.

Even if you are thinking of implementing an  ML/FT risk management system , you should consider the possibility of using technological tools or digital platforms that support the processes established for the correct relationship with third parties.

Why is it important to evolve and promote digital transformation focused on LA/FT/FPADM risk management?

Organizations must be aware that risk scenarios will always exist and begin to promote uncertainty management and incorporate for this purpose all the necessary tools that have emerged thanks to  digital transformation.

“  Well-used technology  is an ally of the human being, because it contributes to guaranteeing a better quality of life and better decision-making. In everyday life, it makes it possible  to manage risks  such as early warnings of tsunamis and droughts,” says Juan Camilo Tirado Marín, administrative director of Agrograin SA.

How to implement technologies in favor of ML/FT risk management?

These are good practices recommended by Juan Camilo Tirado Marín, administrative director of Agrograin SA


Do not weaken controls with third parties (interest groups, employees, area of ​​influence, etc.), based on your own perceptions.


Implement  focus groups , where participants can share news and discuss these platforms and their updates, from which valuable information can be obtained. This would help the team in charge of ML/FT/FPWMD risk management to be increasingly autonomous and expert on the subject.


Carry out a standardization of the process to define a procedure, establish a methodology, delimit the scope of each user and make this implementation more organized.


Segment the information, evaluating which alerts and results are repetitive, so that it is increasingly refined and that access to it is faster and faster.

If you are taking your first steps in ML/FT risk management, what to do?

You have the advantage of handling these issues correctly from scratch, so you can promote the independence of the risk management team, give them autonomy and empowerment to consult any third party with whom they intend to do business in the company.

If you still do not have platforms or technologies focused on ML/FT risk management

  • Implement risk management processes, ML/FT, as a prevention method and not after the risk has materialized.
  • Train your staff in the use of ML/FT risk management platforms, so that everyone is clear about the reasons for each decision in the organization.

What benefits does the implementation of these digital platforms against ML/FT risks bring to a company?

technological transformation

“When risk management is comprehensive, it must incorporate or promote the acquisition of platforms and  technological developments  and guarantee access to reliable, relevant, timely and useful information. Thinking about the management of these risks without digital tools would be ineffective,” adds Juan Camilo Tirado Marín, administrative director of Agrograin SA.

Good reputation

These platforms allow you to have clear, reliable and complete information on the legal and natural persons with whom you have or are thinking of establishing relationships of trust, and avoid entering into contractual relationships with organizations that carry out criminal activities. With risk management and the support of technological tools, you can mitigate the exposure and/or materialization of risks associated with money laundering and terrorist financing.


ML/FT risk management with the support of platforms or technological tools contribute to the stability of businesses based on informed decision-making that builds the future of the company.


Uncertainty   is one of the main characteristics of today’s world and one way to reduce it is by trying to provide the highest possible certainty . Platforms or support tools for ML/TF risk management provide this value to organizations that face uncertainty on a day-to-day basis, because from them security, trust and reliable and timely information are obtained for the decisions that are made. what to carry out

If you don’t know where to start, look for allies to support you in this effort. Cadena, for example, is a company that accompanies the transformation of ML/FT risk management processes with an expert legal team. Learn more  here .

Source:  Juan Camilo Tirado Marín, administrative director of Agrograin SA, expert in asset laundering risk management, terrorist financing and weapons of mass destruction.



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