WILLEMSTAD - Curaçao will be under scrutiny in June as the Caribbean Financial Action Task Force (CFATF) conducts an investigation into the country's compliance with international norms regarding anti-money laundering and combating the financing of terrorism and proliferation. 

The results of the investigation are crucial to the reputation of Curaçao, according to the Curaçao International Financial Services Association (CIFA). Various stakeholders, including financial service providers, real estate agents, notaries, lawyers, building material suppliers, and representatives of the public sector, such as customs, police, and the Ministry of Justice, will have to demonstrate their compliance with international norms and the impact of their actions. 

The CFATF assessment will ultimately determine whether Curaçao is considered a country that complies with these guidelines. If it is found that Curaçao does not or insufficiently comply, it will be publicly identified as a country with deficiencies in its framework. 

EU tax "grey list" 

In addition to the CFATF assessment, Curaçao's financial sector is facing the challenges posed by the EU tax "grey list." 

The EU "grey list" refers to a list of countries and territories that have committed to addressing deficiencies in their tax systems and to comply with the European Union's tax governance principles but have not yet fully implemented these commitments. 

This results in increased scrutiny, which can discourage foreign investment and limit access to global financial markets. 

"The future of Curaçao's financial integrity depends on our collective efforts to address the CFATF assessment and the EU tax 'grey list'," said Cristina Halaby-de Freitas Brás, Chairman of the CIFA Board.