Legislation

Legislation

Relevant AML/CFT legislation

AML/CFT legislation regarding customer due diligence, identification and verification of customers, reporting of unusual transactions:

  • State Ordinance for the Prevention and Combating of Money Laundering and Terrorist Financing (AB 2011 no. 28)

Identification of unusual transactions:

  • Regulation Indicators Unusual Transactions (AB 2012 no. 23)

Type and content of documents needed to verify the identity of a client:

  • AML/CFT State Ordinance regulation on verification of documents (Regeling verificatiedocumenten LWTF – AB 2011 o. 28)

Regulations specifically applicable to natural persons and (legal) entities whose business activities includes conducting money transfers:

  • State Decree Wire Transfers (AB 2011 No. 30)

Obligation to report the import and export of cash money

  • State Ordinance Reporting Obligation Import and Export of Cash Money (AB 2000 no. 27)
  • State Decree Reporting Obligation Import and Export Cash Money (AB 2000 no. 88)

 

Sanctions regime Aruba

The national implementation of treaties and international agreements related to the fight against terrorism and terrorist financing:

  • Sanctions State Ordinance 2006 (AB 2007 no.24)

Freezing of funds or other assets possibly present in Aruba of natural persons and (legal) entities, mentioned on the lists drawn up by the United Nations Sanctions Committee regarding Al Qaeda and the Taliban, as well as the domestic list:

  • Sanction Decree Combat Terrorism and Financing Terrorism (AB 2010 no. 27)