FATF, CFATF & UNSC Notifications

FATF, CFATF & UNSC Notifications

FATF, CFATF & UNSC Notifications

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Curaçao is a member (directly or through association) of several international organizations and treaties, regarding combating of money laundering, terrorist financing and the financing of proliferation, and enforcement of international peace and security. It is important to honor these international agreements, not only to effectively further their goals, but also to be accepted in the international community with its benefits for Curaçao in terms of safety and prosperity.

Curaçao has implemented these international agreements through legislation, part of which regards the gaming industry. This requires all parties that offer gaming related services a.o. to keep their policies, procedures and client base up-to-date with changes in legislation and with the publications resulting from these international agreements.

As regulator, the GCB pursues the compliance of the gaming industry with the law. In order to facilitate this endeavor, the GCB website provides links to pertinent information. Every effort is made to provide accurate and current information. However, due to updating cycles and resources, outdated information may occur. The GCB disclaims any responsibility or liability for errors, omissions, and delay in updating of any information or links, or for claims regarding the accuracy, currency and completeness of the information.

Links to relevant websites:
Financial Action Task Force (FATF)
Caribbean Financial Action Task Force (CFATF)
United Nations Security Council (UNSC)


The Kingdom of the Netherlands is one of the 36 members of the Financial Action Task Force (FATF), whereas Curaçao is a member of the Caribbean Financial Action Task Force (CFATF), which is an associate member of the FATF. The 25 member states of the CFATF agreed to implement common countermeasures to address the problem of criminal money laundering. As such, Curaçao agreed to implement all FATF recommendations and CFATF recommendations complimentary to the FATF recommendations and to undergo evaluations for the purpose of assessing compliance with FATF membership criteria.

This section of the website contains FATF and CFATF notifications that are relevant for the Curaçao gaming industry. The gaming industry is required to take notice of these notifications and, if applicable, include them in their Customer Due Diligence policies and procedures in order to remain compliant with current anti-money laundering and terrorist financing legislation, provisions and guidelines. The gaming industry is required to check for updates of the FATF- and CFATF notifications on a regular basis and update their Customer Due Diligence policies and - procedures accordingly to reflect these notifications.

The notifications consist of:
• the FATF Public Statement
• the FATF Statement “Improving Global AML/CFT Compliance: On-going process”
• the CFATF Public Statement

Guidance:
• the FATF-notifications are usually issued in February, June and October
• the CFATF-notifications are usually issued in May/June and November/December

Downloadable documents
• Improving Global AML/CFT Compliance June 2019
• FATF Public Statement June 2019
• CFATF Public Statement 15 November 2017
• CFATF Public Statement 31 May 2017


In the Curaçao jurisdiction, international agreements regarding enforcement of international peace and security are implemented through the Sanctions National Ordinance (PB 2014, no. 55) and its bylaws, as included in this section. All natural and legal persons must comply with this legislation. The Curaçao gaming industry is required to implement these bylaws in their Customer Due Diligence policies and procedures, in order to remain compliant with current anti-money laundering and terrorist financing legislation, provisions and guidelines. The Curaçao gaming industry is responsible for updating their Customer Due Diligence policies and procedures and their client base to reflect any amendments of this legislation and is therefore required to independently check for such amendments on a regular basis through this and/or other sources.

Notes:
Although the legislation is in Dutch, it lists the UNSC Resolutions which are implemented. The English version of the UNSC Resolutions can be found here.

As a service to the Curaçao gaming industry, the GCB website provides links to information such as Curaçao legislation and the FATF and CFATF notifications. Every effort is made to provide accurate and current information. However, due to updating cycles and resources, outdated information may occur. The GCB disclaims any responsibility or liability for errors, omissions, and delay in updating of any information or links, or for claims regarding the accuracy, currency and completeness of the information.

Downloadable documents
• PB 2014, 55 - Sanctions National Ordinance
• PB 2015, 28 - Sanction Decree Libya
• PB 2015, 29 - Sanction Decree Al-Qaida, Taliban, ISIL, ANF etc.
• PB 2015, 30 - Sanction Decree DPR of Korea 2015
• PB 2016, 71 - Sanction Regulation Islamic Republic Iran
• PB 2017, 46 - Sanction Decree Yemen
• PB 2018, 34 - Continuance Decrees 2015, nos. 28, 29, 30