St. Maarten – In today’s world, following rules against money laundering and terrorism financing isn’t just about obeying laws—it’s about keeping organizational integrity.
In September 2024, St Maarten is being evaluated by the Caribbean Financial Action Task Force (CFATF) to make sure it’s up to scratch with these rules. It’s crucial for all businesses here to have strong anti-money laundering and counter-terrorism financing practices.
St Maarten faces a crucial evaluation later this year, by the Caribbean Financial Action Task Force (CFATF) regarding its compliance with anti-money laundering (AML) standards. Since 2012, St Maarten’s adherence to these standards has been closely watched.
“The CFATF evaluation is not just a routine check-up; it carries significant implications for St. Maarten’s reputation and economic stability” according to Benno van Leeuwen, Managing Director Compliance Caribbean. “A favorable evaluation can ensure continued international cooperation and access to global financial markets. It’s essential for all financial entities to comply, as failure to do so could raise costs and disrupt international transactions.”
Compliance Caribbean is organizing several trainings on St Maarten to support (non) financial institutions in their preparations. More information can be found at https://compliance-academy.corsizio.com/
