WILLEMSTAD – Car rental companies in Curaçao will now be required to report unusual financial transactions of 20,000 guilders or more under updated anti-money-laundering regulations.
The new requirement follows a ministerial regulation that modifies the rules governing the reporting of unusual transactions, commonly known as the MOT reporting obligation.
The updated rules primarily affect businesses involved in the rental of cars and other vehicles. The regulation also applies to companies operating in sectors such as jewelry trading and the sale of construction materials.
Under the new framework, transactions in these sectors must be reported when they reach or exceed 20,000 guilders.
Previously, individuals involved in financial transactions or in possession of amounts exceeding 10,000 guilders could be required to explain the origin and destination of the funds. The new regulation introduces a specific reporting threshold for certain sectors.
Authorities expect that setting a defined reporting limit for these industries may reduce the number of reports submitted, while still maintaining oversight of transactions that could indicate money laundering or other financial crimes.
The changes form part of Curaçao’s broader efforts to strengthen financial transparency and compliance with international anti-money-laundering standards.