Regulatory Alerts2013-08-20 | cba-blob-8583State Decree on Wire Transfers
Issued by the Acting Governor of Aruba, this State Decree establishes comprehensive regulations for money transfers conducted by payment service providers to combat money laundering and terrorist financing. Payment service providers must attach complete payer details or a unique identification code to each transfer, with specific exemptions for card payments, mobile transactions under Afl. 300, and domestic inter-provider transfers. The decree mandates the retention of transfer data for ten years, requires providers to verify and refuse incomplete transfers, and grants the central bank authority to oversee compliance procedures.
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