Regulatory Alerts2012-05-31 | cba-blob-8547Aruba Government Gazette 2012 No. 23: Interim Regulation on Indicators for Unusual Transactions (LWTF)
The Acting Minister of Justice and Education, on behalf of the Minister of Finance, Communication, Public Works and Energy, issued this Interim Regulation to establish specific indicators for identifying unusual transactions under the Money Laundering and Terrorist Financing Ordinance. The regulation mandates credit institutions, money transmission businesses, exchange institutions, insurers, intermediaries, casinos, professional practitioners, dealers in high-value goods, and trust companies to report transactions meeting defined monetary thresholds or behavioral sub-indicators to the Reporting Point. Effective from 1 June to 1 December 2012, these indicators enable service providers to flag transactions potentially linked to money laundering or terrorist financing based on cash/electronic values, client behavior, identification issues, and cross-border elements.