The Colombian Superintendence of Industry and Commerce (SIC) issued sanctions against the FCF, as well as two private companies and 17 individuals.

The sanctions came at the conclusion of a two-year investigation, with those involved accused of "cartelisation of ticket sales for home matches involving the Colombian national team" during the qualification for the 2018 FIFA World Cup.

The SIC said there had been "an illegal agreement between the FCF, Ticket Ya and Ticketshop, through which they devised and executed a system that limited free competition to favour Ticketshop in the award of the ticketing contract for the World Cup Qualifiers."

It is claimed the agreement "facilitated the massive diversion of ticket sales for resale purposes, allowing for surcharges of up to 350 per cent."

FCF President and FIFA Council member Ramon Jesurun is among the officials to have been fined, along with former FCF President Luis Bedoya.

Bedoya, a former vice-president of CONMEBOL, was banned for life by FIFA in 2016 after pleading guilty to racketeering conspiracy and wire fraud conspiracy in the United States as part of the corruption investigation into football’s governing body.

The FCF has responded to the decision with the organisation confirming it will lodge an appeal against the sanction.

The FCF claim there was a "lack of evidence" from the SIC.

"Throughout the procedure at the request of the SIC, the FCF has revealed multiple and serious anomalies, particularly the absence of evidence against it or its members," an FCF statement read.

"These shortcomings have been brought to the attention of other judicial instances, which are carrying out the respective investigations."

The SIC decision comes weeks after the conclusion of the bidding process for the 2023 FIFA Women’s World Cup.

Australia and New Zealand have been awarded the hosting rights in June, with their joint bid receiving 22 out of a possible 35 votes from the Council.

Colombia, the only other contender, obtained 13 votes.

All nine UEFA representatives on the FIFA Council voted for Colombia to host the ninth edition of the Women's World Cup, despite the bid receiving the lower score in the evaluation report.