Am I required to report?

Pursuant to article 1 of the AML/CFT State Ordinance, the FIU distinguishes the following reporting service providers:

  • Accountant
  • Lawyers and legal adviser
  • Administration office
  • Bank
  • Tax advisor
  • Investment institution
  • Casino and Internet casino
  • Factoring company
  • Money transfer company
  • Dealer of high-valued good
  • Collection agency
  • Life insurer or broker
  • Real estate agent
  • Notary
  • Pawnshop | compra y venta
  • Trust office

The above list is not exhaustive. You are (also) obligated to report if you perform one or more of the services below.

Financial service providers

  • accepting deposits and other redeemable funds from the public;
  • granting loans;
  • financial leasing, with the exception of consumer-related leasing;
  • transferring or arranging for funds or monetary values ​​to be transferred;
  • issuing and managing non-monetary means of payment, including credit cards, debit cards, checks, traveler’s checks, bank and money orders and electronic money;
  • providing financial guarantees and commitments;
  • dealing in money market instruments, foreign currencies, stocks, currency, interest and index instruments, transferable securities and forward market instruments;
  • to participate in the issue of securities and to provide financial services in that regard;
  • managing individual and collective investment portfolios;
  • receiving for safekeeping and managing of cash or liquid securities on behalf of third parties;
  • to otherwise invest, administer or manage funds or moneys on behalf of third parties;
  • to underwrite, redeem and pay, as well as to act as an intermediary, in the underwriting, redeeming and payment of a life insurance agreement as meant in Article 1 of the State Ordinance Supervision Insurance Business (AB 2000 No. 82), and other investment-related insurance products;
  • the exchange of money and foreign currency;

Non-financial service providers

  • a natural person, legal entity, corporation or partnership acting as a lawyer, civil notary, assistant civil notary, tax adviser or in the exercise of a similar legal profession or business;
  • a natural person, legal entity, corporation or partnership acting as an external registered accountant, an external accountant-administration consultant or a similar professional practitioner;
  • a natural person, legal entity or corporation which on a commercial or professional basis trades on or acts as an intermediary in the purchase and sale of immobile objects, vehicles, ships, aircraft, objects of arts, antiquities, and the rights to which these objects can be subjected;
  • a natural person, legal entity or corporation which trades in precious metals, precious stones and jewelry on a professional or commercial basis;
  • a casino as meant in article 1, first section, of the State Ordinance Games of Hazard (AB 1990 no. GT 44), as well as an internet casino;
  • a trust office and company service provider as meant in article 1 of the State Ordinance Supervision Trust and Company Service Providers (AB 2009 no. 13);

Do I have to register with the FIU?

Yes, if you are a service provider that has an obligation to report, you are required to register with the FIU. In order to register, you must submit the -> Registration form

How can I report an unusual transaction?

You can find the reporting procedure here -> go to reporting procedure.

When is a transaction unusual?

Various indicators have been implemented in order to determine whether a transaction is unusual. These indicators describe in which situations money laundering and / or terrorist financing may be involved. The unusual nature of a transaction is determined based on these indicators. You can find the list of indicators under the heading “legislation” in the menu.

What is the difference between an objective and a subjective indicator?

Reporting is mandatory for objective indicators. With regard to the subjective indicators, reporting is mandatory if the service provider finds that the situation as described in the indicator is applicable.

Should intended transactions also be reported?

Intended transactions should also be reported to the FIU. An intended transaction is a transaction that has not or has not been fully executed. However, the client’s intention has been made known to the service provider. The reason for not or not fully carrying out the transaction, or which party (client or service provider) renounces the transaction is irrelevant.

Which minimum information needs to be included in a report?

A report must contain at least the following information:

  1. the identity of the client;
  2. the nature and number of the identity document of the client;
  3. the nature, time and place of the transaction;
  4. the amount, the designated use and origin of the funds, securities, precious metals or other valuables involved in a transaction;
  5. the circumstances based on which the transaction is considered unusual;
  6. if it concerns a transaction regarding a high value object, a description of the object in question;
  7. the indicator or indicators pursuant to which the transaction was designated as unusual;
  8. by State Decree containing General Administrative Measures, other data may be stated to be provided together with the report.

If certain information about an involved subject is missing, should the transaction be reported?

Yes, this transaction should be reported to the FIU. The reason for the missing information should be explained in the situation description of the report.

Which amount should be included in the report for a cashless transaction?

With a cashless/giro transaction the amount as provided by the client in the original instruction must be included in the report.

What are the reasons for refusing a (digital) report?

  • A double report was submitted
  • The bank account number is missing
  • The amount is incorrect
  • The amount does not reach the reporting threshold
  • Attachment is missing
  • Date of birth is incorrect
  • ID information is incorrect
  • The chosen indicator is incorrect
  • The Chamber of Commerce number is incorrect
  • Subject is missing
  • Subject information is incorrect
  • The role of the subject is missing
  • Transaction status is incorrect

Within what period should a refused report be resubmitted with the FIU?

A report that has been refused by the FIU must be corrected by the reporting entity. You are required to submit the corrected report within 5 working days upon refusal of the report.

Can I request a postponement to correct a refused report?

Yes, it is possible to request a postponement for answering an Article 27 of the AML/CFT State Ordinance request for (additional) information in exceptional cases in accordance with the following procedure:

  1. You must submit a request for postponement via email to mot@fiu-aruba.aw.
  2. You must state the reference number of the request for (additional) information (We urge you not to include any personal information in your request).
  3. You must to state the reason why an answer cannot be given within the specified period.
  4. You must submit your request for postponement no later than a day and a half prior to the set deadline.

The supervisor will be informed, if you fail to respond in time to an (additional) request for information pursuant to Article 27 of the AML/CFT State Ordinance and have not submitted a request for postponement within the specified period.

What are the reporting rules?

As a service provider, you are obligated to report intended and executed unusual transactions that are or may be related to money laundering and / or terrorist financing promptly. If you report an unusual transaction, you should carefully check that all fields of the digital reporting form have been completed correctly and in full. You may not tell the client that a report will be submitted or that this has been done (“tipping-off prohibition”).