Laws submitted by Financial Intelligence Unit- Compliance is important. | SMN News

PHILIPSBURG:— Government has submitted three draft National Ordinances to Parliament for approval, that if not passed can place St. Maarten on the list of high-risk or non-cooperative jurisdiction. Those laws awaiting approval are as follows:

1. The National Ordinance to amend the National Ordinance obligation to report cross-border money transfers;
2. The National Ordinance to combat money laundering and terrorism financing;
3. The National Ordinance Meldpunt Ongebruikelijke Transacties;

The fact that Sint Maarten is not in compliance with the 40 Financial Action Task Force (FATF) recommendations may lead to a public statement that can be issued by the Caribbean

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