SINT MAARTEN (GREAT BAY) - Minister of Justice Nathalie Tackling has accelerated Sint Maarten’s financial crime reform agenda following her participation in the 60th Plenary of the Caribbean Financial Action Task Force (CFATF) in Trinidad and Tobago. She brought together key stakeholders from government, financial regulators, law enforcement, and the private sector to begin shaping the work of a national committee tasked with implementing CFATF priority actions and recommendations.
Participants included the Central Bank of Curaçao and Sint Maarten (CBCS), the Financial Intelligence Unit (FIU/MOT), the Ministries of Justice, General Affairs, TEATT, and Finance, the Tax Administration, the Public Prosecutor’s Office, the Police Force of Sint Maarten (KPSM), the Landsrecherche, the Chamber of Commerce and Industry (COCI), Customs, and the National Security Service (VDSM).
The meeting focused on creating ownership across institutions by assigning responsibilities and prioritizing actions in the short, medium, and long term. Minister Tackling stressed that Sint Maarten’s approach must be about “taking ownership and getting results,” beginning with quick wins that can be achieved ahead of the next CFATF plenary in May 2026.
The Fourth Round Mutual Evaluation Report recognized Sint Maarten’s first National Risk Assessment as a milestone, while also identifying areas for improvement. These include stronger coordination and policy alignment, building institutional capacity for financial oversight, expanding training and investigative tools, enhancing supervisory compliance, and raising awareness and preparedness against terrorist financing and sanctions obligations.
To maintain momentum, the committee will establish smaller working groups within departments to expedite priority actions. It will meet every two weeks to track progress, with Minister Tackling personally chairing once a month to ensure accountability and follow-through.
“These findings are not setbacks, they are a roadmap,” Minister Tackling stated. “We now know exactly where the gaps are and, more importantly, what we need to do to close them. My priority is building the capacity of our institutions, equipping our enforcement agencies, and strengthening collaboration across the chain to push this reform forward.”
Sint Maarten remains under the monitoring of the Financial Action Task Force’s (FATF) International Co-operation Review Group (ICRG), which evaluates jurisdictions with strategic deficiencies in anti-money laundering and counter-terrorist financing. The country has three years to demonstrate measurable improvements before the next National Risk Assessment and the fifth-round evaluation.
Being placed on the international FATF grey list would have serious consequences for Sint Maarten, including increased scrutiny on financial transactions, higher costs for doing business, potential delays in international banking, and reduced investor confidence. Ultimately, it would put pressure on the economy and risk reputational damage for the country.
This week, Minister Tackling will continue this work at the 17th CFATF Council of Ministers Meeting in Panama, where she will help shape the CFATF Strategic Plan for 2025–2028. Discussions will also cover mutual evaluation priorities, training and technical assistance, the EU list of high-risk third countries, and Steering Group activities.
“We are not approaching this as a box-checking exercise,” Tackling emphasized. “This is about protecting our financial system, safeguarding our people, and ensuring Sint Maarten is never vulnerable to being grey-listed. Progress is already underway, and we are determined to keep moving forward.”
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