Author Archives: FIU-Aruba
Increased awareness required following FATF statement on the Russian Federation
On 24 February 2023, one year after the invasion of Ukraine by the Russian Federation, FATF has decided to suspend Russia’s membership while emphasizing that the Russian Federation remains accountable to its obligation to implement the FATF standards and that it must continue to meet its financial obligations. Hence, Russia will remain an active member
Real Estate Sector – guidance on reporting in practice
We regularly receive questions from real estate agents regarding their obligation to report unusual transactions as they are often affiliated with a real estate company ‘brand name’. Therefore, to support reporting entities, particularly real estate agents, in determining whether they are required to report an unusual transaction report, please find a document providing guidance on
Regulation (EU) 2022 1230
AMENDMENT TO THE NATIONAL SANCTION LIST Having regard for, in particular, Article 2 (3) of Council Regulation 2580/2001 of 27 December 2001 regarding the implementation of restrictive measures against persons, groups, and entities with the aim of combating terrorism, the Council has reevaluated the established list as adopted in Regulation (EU) 2022/147 of 3 February
Annual Report 2017 – 2020
Due to various circumstances, the FIU was not able to publish its annual reports over the de period 2017 – 2020. Therefore, a bundle form is chosen to report over the afore-mentioned period to make up for this backlog. We thank the Minister of Finance who bears the parliamentary responsibility for the FIU, the former
Screening of EU sanction lists in relation to the situation in Ukraine
The invasion by the Russian Federation of Ukraine has prompted the European Union (EU) to implement a broad range of restrictive measures that target, amongst others, the financial sector, defense, airspace, energy, and the transport sector. Furthermore, due to the recent participation of Belarus with the Russian Federation in the aggression against Ukraine, the EU
AMENDMENT TO THE NATIONAL SANCTION LIST
Having regard for, in particular, Article 2 (3) of Council Regulation 2580/2001 of 27 December 2001 regarding the implementation of restrictive measures against persons, groups, and entities with the aim of combating terrorism, the Council has reevaluated the established list as adopted in Regulation (EU) 2021/1188 of 19 July 2021. The Council has concluded that
Dig deeper – Outsmarting the proliferation financer
Service providers can contribute to the countering of the financing of proliferation of weapons of mass destruction in several ways, one of which is by conducting a sound screening of the sanction lists. These sanction lists pertain to North Korea and Iran in particular. When conducting a screening, it is important to keep in mind
FATF Public Statements: Situation in Afghanistan & Financing of ISIL, Al Qaeda and Affiliates – October 2021
FATF Public Statements: Situation in Afghanistan & Financing of ISIL, Al Qaeda and Affiliates – October 2021 During the most recent FATF Plenary meeting, discussions were held and statements were subsequently issued regarding the situation in Afghanistan as well as the risks associated with the financing of ISIL, Al Qaeda and Affiliates. All service providers
FATF: High-Risk Jurisdictions subject to a Call for Action – October 2021
FATF: High-Risk Jurisdictions subject to a Call for Action – October 2021 Periodically, the FATF publishes a list of countries that have significant strategic deficiencies in their national AML/CFT/CPF regimes. For the countries that are considered to be of high risk, all jurisdictions should apply enhanced due diligence or, in the most serious cases, apply
FATF: Jurisdictions under Increased Monitoring – October 2021
FATF: Jurisdictions under Increased Monitoring – October 2021 Periodically, the FATF publishes a list of countries of which strategical AML/CFT/CPF shortcomings have been identified. Whenever the FATF places a jurisdiction under increased monitoring, it means that the country has committed itself to mitigate the identified shortcomings within a certain timeframe. Within this timeframe, the country
