Minister of Justice Hon. Dennis Richardson’s intention is to see that the image of the country regarding combatting money laundering and terrorist financing is improved. A key organization in this regard is the Financial Intelligence Unit (FIU) which falls under the Ministry of Justice.
It is a new entity established on October 10, 2010, also known to many as MOT that has the mission to detect and deter money laundering and terrorist financing and other underlying crimes which contributes towards a safe and stable financial economic environment for the country.
"We as a country do not tolerate anybody using us for money laundering. We have taken upon ourselves as a country to have an FIU entity in place to combat such illegal activities that may take place on our territory. We have international obligations and responsibilities and we are complying with them.
"I am sending a very strong message to investors that we welcome your investments as long as these are legitimate. Sint Maarten will always be open to legitimate foreign investment.
"For those who think they will be able to launder their ill-licit gains, you are hereby informed that we will not accept nor tolerate this, and you are not welcome here," Minister of Justice Hon. Dennis Richardson said on Tuesday.
The Minster pointed out that Sint Maarten wants to have a strong and dynamic financial sector free from money laundering and terrorist financing and other underlying crimes. The financial sector falls under the supervision of the Central Bank of Curacao and Sint Maarten.
The Designated Non-Financial Businesses and Professions (DNFBPs) fall under the supervision of the FIU.
These businesses and professions have been invited to register with FIU via its online website (www.fiu-sxm.net). These businesses and professions are: lawyers, notaries, tax advisors, accountants, administration offices, jewelers, car dealerships, and real estate agents. Registration must be completed before September 30, 2013.
The business sector and professionals of Sint Maarten play a vital role in combatting money laundering and terrorist financing. FIU wants to foster a close working relationship with those categories of businesses and professions that have been identified.
Combatting money laundering and terrorist financing is seen as a national collective responsibility and therefore joint combative measures from government involving the private sector will lead to a successful effort with the end result of a better economic environment for all to thrive in connection with the national development of the country leading to the improvement in the quality of life for all.
Sint Maarten is a member of the Caribbean Financial Action Task Force (CFATF) and fully subscribes to the mission of developing and implementing effective anti-money laundering and terrorist financing and counter-terrorist financing systems and to contribute to the setting of global standards.
Justice Minister Richardson also stated that the FIU of Sint Maarten subscribes to be an efficient and responsive organization that plays a leading role, within the region and the global community, in the prevention and suppression of money laundering and terrorist financing and terrorist financing through the effective implementation of the international standards.
Those requiring additional information can call the FIU at 542-3025 or email mo*****@ju********.com.
PHOTO CUTLINE: Minister of Justice Hon. Dennis Richardson DCOMM Photo