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New CIFA representative in committees against money launderingIt is a pleasure for us to announce, on behalf of the Board of the Curaçao International Financial Services Association, the appointment of Mister Eric Paassen as our new representative in the committee of the Unusual Transactions Reporting Center (MOT) as well as in the National Committee against Money Laundering (CIWG). On January 29, 1996, the Parliament of the Netherlands Antilles approved the National Ordinance on the ‘Reporting of Unusual Transactions’ (MOT). With this approval, the Netherlands Antilles took a concrete step in tackling the problems related to money laundering. The National Ordinance on the MOT aims to identify customers of financial institutions before services can be rendered. In addition, the financial services industry is obligated to report unusual transactions to a central reporting agency (meldpunt). The MOT committee has been installed to regulate, coordinate and keep supervision over the Reporting center. In the last years, the MOT has been adapted to include other sectors under the anti-money laundering legislation as well. The National Committee against Money Laundering (CIWG) has been founded in 1989 and is the advisory body for the government regarding the international developments in the fight against money laundering and terrorist financing. The CIWG monitors all legislation and measures taken by the Financial Action Task Force (FATF), guards the compliance to the FATF recommendations while keeping the sector informed about further changes in the area. CIFA believes fervently that a good communication and collaboration between the Central Bank and the private sector is of vital importance in the battle against money laundering and terrorist financing. The Board is convinced that Mr. Paassen will contribute positively to both committees and as such represent the interest of the sector as a whole in these issues. CIFA, 15 March 2007Voor meer nieuws van CIFA, bezoek http://www.cifa-curacao.com |
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