WASHINGTON - The entire Kingdom of the Netherlands has been placed by the United States on the list of countries where too little is being done against money laundering.
Curaçao, Aruba, Sint Maarten and the Netherlands can be found as major money laundering jurisdictions in the just published edition of the US International Narcotics Control Strategy Report (INCSR). Almost all countries in the Caribbean region are on the list. Only the French Antilles, Puerto Rico and the US Virgin Islands are not. The US itself is there, as well as the United Kingdom and Spain.
Curaçao is considered a transfer point for drugs and gold from South America. Money laundering takes place through the sale of illegal drugs, unlicensed lenders, online gambling and the transit of gold from South America.
Due to its location, Aruba is a transfer point for drugs from South America, en route to the United States and Europe, and for currencies flowing in the opposite direction. Money laundering has mainly to do with the proceeds from illegal drugs trafficked by criminal organizations and takes place via gold transfers and the purchase of real estate.
Sint Maarten has not yet adopted and implemented legislation to regulate and control its casino, lottery and online gambling sectors in accordance with international standards. The Netherlands is an important trade and financial center and therefore an attractive meeting point for laundering proceeds from illegal activities, including the sale of drugs.