Money Laundering and Terrorism Financing (BES Islands) Act
Service providers on Bonaire, Sint Eustace and Saba (the BES islands) have an important role in the financial markets in preventing financial-economic crime and unethical behavior. For this reason, requirements are established in the Money Laundering and Terrorism Financing (BES Islands) Act. The AFM guideline (only available in Dutch) provides further details of the obligations under the Wwft BES and practical examples.
A service provider on the BES islands must, among other things, prevent:
A service provider on the BES islands must, among other things, prevent:
- money originating from crime being laundered through the financial system
- money being used for the financing of terrorism
- persons and organizations subject to national or international sanctions from participating in the financial system
- businesses and persons benefiting from fraud and corruption.