Regulatory Alerts2020-02-10 | cba-blob-9540Central Bank of Aruba AML/CFT Handbook for Service Providers
The Central Bank of Aruba issued this handbook to establish comprehensive anti-money laundering and counter-terrorist financing obligations for financial and designated non-financial service providers. It mandates a risk-based approach to customer due diligence, enhanced monitoring of high-risk jurisdictions and politically exposed persons, and the implementation of robust corporate governance, internal controls, and staff screening procedures. Effective January 2020, the document outlines statutory and regulatory compliance requirements across customer identification, record keeping, funds transfers, and sector-specific obligations to ensure effective prevention and detection of financial crimes.
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