TBO / OM and FIU to brokers and notaries on Bonaire.

BONAIRE:— Following the conference organized by the FIU and the Public Prosecutor’s Office on “Combating money laundering and property fraud on Bonaire” of December 2017, employees of the Combat Against Team Undermining (Team Bestrijding Ondermijning) of the Public Prosecutor’s Office (TBO/OM) and the Financial Intelligence Unit (FIU) had this past week informative talks with brokers and notaries on Bonaire. In these talks experiences were shared that relate to criminal investigations into money laundering and corruption. This is to alert brokers and notaries on Bonaire to possible abuse by criminals and to enable them to better identify unusual transactions and to report these to the FIU. Brokers and notaries are obliged companies. This means that they are legally obliged to report unusual transactions to the FIU.

It is of great public interest to be vigilant and to identify possible corruption and money laundering practices. Money laundering ends a lot in purchased real estate. This disrupts the real estate market and makes homes for people with a modest income unaffordable.

The TBO/OM and FIU are combating money laundering and corruption jointly with various other regulators, the judiciary and companies obliged to notify. In the informative discussions that took place, it was made clear on the basis of general
typologies which forms of corruption and money laundering TBO/OM have been seen in the criminal investigations in the Caribbean part of the Kingdom. This includes the following characteristics:

– intermediaries/consultants are hired for concealing corruption money;
– negotiations by a broker (on real estate) with person A, while formal ownership is ultimately established in the company of person B;
– the final destination of many corruption funds is often real estate;
– misuse of third-party accounts and checks for concealing money flows;
– use of offshore companies to disguise the beneficial owner (UBO).

Criminal jurisprudence has also been discussed with reporting agents who do not comply with their obligation to report to the FIU. The FIU has also provided various practical guidelines with which the implementation of the duty to report can be supported.

The TBO/OM can not fight corruption and money laundering alone. We do this with you and for you. In this you, as a critical citizen, is indispensable. Your signals from the
society of corruption and money laundering are essential. Do you suspect that there may
be money laundering or corruption? Then report this to TBO/OM by email:
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More information about the FIU and reporting duty can be found on the website:

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Source: St. Martin News Network http://www.smn-news.com/st-maarten-st-martin-news/29360-tbo-om-and-fiu-to-brokers-and-notaries-on-bonaire.html