Regulatory Alerts2012-11-30 | cba-blob-8544Ministerial Regulation of 28 November 2012 on Indicators for Unusual Transactions (AB 2012 no. 47)
The Minister of Finance, Communication, Public Works and Energy of Aruba issued this ministerial regulation to establish new objective and subjective indicators for identifying unusual transactions under the Anti-Money Laundering and Counter-Terrorist Financing Act. The regulation sets specific monetary thresholds for cash (Afl. 25,000) and giro transactions (Afl. 500,000), with a reduced threshold of Afl. 5,000 for casinos, while defining exemptions for pension-related transactions, government entities, and low-risk cases. It replaces the interim regulation effective 1 April 2013 and mandates the Head of the Reporting Point to establish reporting codes for service providers.
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