PHILIPSBURG (DCOMM):--- On July 30 a Memorandum of Understanding was signed between the Financial Intelligence Unit, Sint Maarten and that of Curaçao.
The signing marked an historical accomplishment between the two countries that allows the two organizations to share information, according to Director of FIU Ligia Stella.
Director of FIU Curaçao Kenneth Dambruck concurred, and added that by exchanging information we are able to combat money laundering and the financing of terrorism and related crimes.
The two organizations were elated to reach this point, and that now progress can be made in FIU Sint Maarten further establishing itself and qualifying to become a member of the Egmont Group of FIUs.
The Financial Intelligence Unit (FIU), an organization that falls under Justice Ministry, is a national center for the receiving and analysis of unusual transactions reports (UTRs) regarding possible money laundering and terrorist financing.
FIU cooperates with the relevant partners in the Justice chain in a timely fashion, with a view to the national and international fight against crime, particularly money laundering and terrorist financing.
If the Reporting Center after proper analysis of an unusual transaction concludes that there is a suspicion of money laundering and/or terrorism financing, this transaction will be reported to the Public Prosecutor's Office as a possible case of money laundering and/or terrorist financing.
In Dutch the name of the FIU division is Meldpunt Ongebruikelijke Transacties or MOT for short. Sint Maarten is a member of the Caribbean Financial Action Task Force (CFATF).
For more information, visit the website: fiu-sxm.net.