FIU spotlights for accounting professionals

In June 2019, the Financial Action Task Force (FATF) issued a Guidance for a Risk-Based Approach for the Accounting Profession[1], designed to help accountants and tax advisers worldwide identify and manage the risks of money laundering and terrorist financing (ML/TF).

In the Aruban context, accountants, auditors, tax professionals and other accounting professionals occupy a critical position as gatekeepers of the financial system. Their work—structuring businesses, advising on cross-border transactions, or handling client funds—can unintentionally be exploited to conceal illicit activities. Through this ‘FIU spotlights for accounting professionals’, FIU-Aruba seeks to assist professionals in recognizing and reporting unusual transactions associated with money laundering, terrorist financing, and the proliferation financing of weapons of mass destruction.