The government of Aruba introduced regulations that amends the State Ordinance for the Prevention and Combating of Money Laundering and Terrorist Financing to clarify who is considered to be the ultimate beneficial owner in the case of a company, legal person or trust.
The Financial Intelligence Unit of Aruba published a series of sanctions designations under the Regulation Indicators Unusual Transactions, including United Nations Security Council and European Union sanctions designations related to chemical weapons, human rights violations and Iran.
At least nine Caribbean banks that have lost access to U.S. correspondent accounts as a result of the “de-risking” trend now access U.S. dollars indirectly, usually at higher costs, through their ties to U.K. and other overseas financial institutions, sources told ACAMS moneylaundering.com.
Guyana failed to approve AML legislation ahead of this week’s FATF plenary, Fiji is expanding the powers of its law enforcement by allowing phone tapping in order to boost its fight against money laundering, and more, in this week’s roundup.
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