Curaçao: Office of the Public Prosecutor issues ANG 200,000 penalty against bank for AML/CFT obligations failure
The Caribbean Financial Action Task Force ('CFATF') announced, on 2 September 2021, that the Public Prosecutor of the Attorney General's Office of Curaçao, Sint Maarten and Bonaire, Sint Eustatius and Saba had issued a sanction fining a bank ANG 200,000 (approx. €93,870) for anti-money laundering and combating the financing of terrorism ('AML/CFT') failures. In particular, the CFATF stated that the bank committed a criminal offence by withdrawing seized assets, and in addition, the bank had failed to notify the Financial Intelligence Unit ('FIU') in a timely manner of the withdrawal.
Furthermore, the CFATF highlighted that the actions of the bank were contrary to the it's obligations to report transactions suspected to be connected to money laundering or terrorist financing under the National Ordinance on the Reporting of Unusual Transactions.
You can read the press release here.