Curacao with heavy heart to Financial Task Force meeting

POSTED: 05/16/12 1:05 PM

WILLEMSTAD – Curacao sends a 16-strong delegation to a meeting of the Caribbean Financial Action Task force in El Salvador next week, but the delegation members make the trip with a heavy heart. That’s because the second draft report about Curacao that was published this month has already drawn negative reactions from countries like the United States, Canada and France.
The report contains forty recommendations and nine special recommendations for Curacao. Chances are that the country will get a negative reaction from the CFATF. This is in part due to the recent political developments whereby Justice Minister Wilsoe said he has no longer confidence in Attorney General Dick Piar, the national security service was put on operational shut down and the island was awash with stories about the possible leaking of state secrets. These stories attracted international attention.
Delegation members fear that several institutions, such as the Reporting Center for Unusual Financial Transactions will get a non-compliance-status. This will have a negative effect on local companies in the financial services sector.
Another sensitive point is the law that regulates special investigation methods. The parliament has approved the legislation, but it has not become effective yet because Justice Minister Wilsoe wants to do a solid information campaign first.

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