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Integrity Supervision - AML-CFT framework

AML/CFT framework

The Aruban AML/CFT framework is based on the 40 Recommendations to combat money laundering and the financing of terrorism & proliferation published by the Financial Action Task Force (FATF).

AML/CFT State Ordinance

The State Ordinance on the Prevention and Combating Money Laundering and Terrorist Financing (AML/CFT State Ordinance) contains provisions regarding:

  • customer due diligence (CDD)
  • reporting of unusual transactions
  • record keeping
  • supervision and enforcement

Designated non-financial service providers (including lawyers, civil notaries, tax advisors, accountants, jewelers, high value dealers, casinos) and other service providers (including  investment brokers, factoring and leasing companies) must comply with the requirements of the AML/CFT State Ordinance. They must also register with the CBA.

AML/CFT Handbook

The Handbook for the prevention and detection of money laundering and combating the financing of terrorism for financial and trust services business regulated by the CBA (AML/CFT Handbook) describes the statutory requirements set out in the AML/CFT State Ordinance, provides mandatory directives of the CBA regarding the application of the AML/CFT State Ordinance (regulatory requirements) and finally presents ways of complying with the statutory and regulatory requirements (guidance notes).

Other relevant downloads