WILLEMSTAD - A strong cooperation and understanding between the Financial Intelligence Unit (FIU) and the entities that report unusual transactions are very important for the reputation of Curaçao in the international financial community, as it shows Curaçao’s commitment to fighting financial crime.
For this reason, the International Banking Association (IBA), the Curaçao International Financial Services Association (CIFA) and the FIU joined forces and organized a Round Table on February 20, 2025, with sponsoring from EY, Grant Thornton and United Bank & Trust.
In the weeks leading up to the event a survey was conducted under reporting entities with questions about mentioned entities’ experiences with the reporting of unusual transactions to the FIU and the reporting platform. The purpose of this survey is to highlight potential challenges and questions of the sector in relation to the reporting of unusual transactions.
More than 100 participants from various organizations, mostly compliance professionals, attended the event, which was kicked off with a welcome word from Cristina Halaby - de Freitas Brás, chairwoman of CIFA, followed by an introduction from Nihaila Sambo, acting head of FIU Curaçao.
Mrs. Sambo emphasized that the fight against crime is ever evolving, and that success depends on the partnerships with external stakeholders. It requires a collective and coordinated effort between regulatory bodies, supervised institutions and law enforcement agencies to safeguard the integrity of our financial system and therefore the FIU is focused on becoming a more receptive and proactive authority that provides the support and guidance necessary for the sector.
After the introduction, Marsha Henriquez-Lievendag, tactical/operational analyst & IT specialist and Edson (Johnny) Cijntje, coordinator Analyst Department gave a presentation about the organization and purpose of the FIU, the reporting process and reporting statistics.
Subsequently, Jeanette van Geest, head of compliance at Citco, presented the outcome of the survey. The latter set the stage for a fruitful round table discussion between the FIU and the reporting entities on the further enhancement of the reporting of unusual transactions. The roundtable was moderated by Selina Neuman, head of compliance at LAAD.
The event was concluded by an informal gathering, where participants, organizers and sponsors had the opportunity to connect while enjoying drinks and bites.
Both the FIU and the representatives of the reporting entities were very articulated about the contribution of the roundtable to strengthening the relationship. The nature of the discussions during the event reiterated the commitment of the reporting entities to combatting money laundering and terrorism financing.