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Established in 1996, Aruba's Financial Intelligence Unit (FIU) is the main supervisor for AML/CTF and is an independent government body. The FIU's major mission is to gather, record, process, and analyse data in order to see if it can be used to prevent and identify money laundering and terrorism financing.
The Aruban AML/CFT framework is based on the Financial Action Task Force's 40 Recommendations to Combat Money Laundering, Terrorist Financing, and Proliferation (FATF)
The State Ordinance on Money Laundering and Terrorist Financing Prevention and Combat (AML/CFT State Ordinance) requires financial or designated non-financial service provider to:
A service provider must disclose an unusual transaction that has been carried out, or planned, to the FIU as soon as the unusual nature of the transaction becomes known to it. The unusual nature of a transaction is determined by objective or subjective indicators.
In the case of an unusual transaction report the entity must detail:
Our clients are provided with a secure and simple solution in regard to scanning for politically exposed or high-risk individuals, as well as checking names against sanction, regulatory, law enforcement, and other official lists.
Use our sophisticated scan filters and due diligence workflow to minimise the amount of time you spend sorting through, false matches. Scan results and reporting sections allow you to access customer details, whenever and wherever required, as well as download reports, to customise for further investigation or to provide evidence of your AML program compliance for auditing purposes.
* This page is intended as general information only and should not be relied on as the sole source of information for your AML obligations and AML program. Please visit your local regulatory authority sites for the latest relevant and full information.
