WILLEMSTAD – The CBCS is preparing to further tighten supervision of banks and insurers, shifting from policy development to stricter enforcement. Building on a new supervisory approach introduced in recent years, the central bank plans to intensify sanctions for non-compliance and address weaknesses in existing legislation.
According to the Strategic Plan, conduct supervision will be expanded, internal complaints procedures at financial institutions will be mandated, and the CBCS’s own complaints handling will be automated. The bank will also follow up on findings from regional anti-money laundering evaluations and strengthen oversight of emerging financial crime risks, including cyber fraud and crypto-related money laundering.
The goal is to ensure that the financial sector remains future-proof, resilient and aligned with international norms, while protecting consumers and the reputation of Curaçao and Sint Maarten as financial jurisdictions.