The Centrale Bank van Aruba (CBA) has issued a revised version of its Handbook for the prevention and detection of money laundering and financing of terrorism (AML/CFT Handbook). Effective January 1, 2020, it replaces the AML/CFT Handbook of June 1, 2011, as well as the Guidance Notes for designated non-financial service providers of June 30, 2011.
As of January 1, 2020, the AML/CFT Handbook applies to all financial service providers and all designated non-financial service providers, as defined in section 1 of the AML/CFT State Ordinance, which include, among others:
- Credit Unions;
- Life Insurers;
- Pension Funds;
- Money Transfer Companies;
- Trust Service Providers;
- Insurance Brokers;
- Tax advisors;
- High value dealers (e.g. Jewelers, Car dealers);
- Real Estate Agents.
The revised version is available on the CBA’s website under the heading “Supervision”:
- “AML/CFT Framework” (https://www.cbaruba.org/cba/getPage.do?page=aml-cft-framework) and;
- “AML/CFT Supervision of designated non-financial service providers and other service providers” (https://www.cbaruba.org/cba/getPage.do?page=aml-cft-supervision-of-non-regulated-financial-service-providers).
The AML/CFT Handbook should always be read in conjunction with the official text of the AML/CFT State Ordinance (in the Dutch language).