WILLEMSTAD – The International Monetary Fund (IMF) is calling for greater transparency in the anti-money laundering (AML) and counter-terrorism financing (CFT) framework overseen by the Central Bank of Curaçao and Sint Maarten (CBCS).
While the legal structure for supervision is described as well-defined, the IMF notes that much of the operational detail remains undisclosed.
Key documents, including internal procedures and risk assessment frameworks, are not publicly available, and existing disclosures provide only high-level information about supervisory activities.
The report also points out that enforcement actions are rarely detailed. In one case where a fine was issued, the identity of the institution and follow-up measures were not disclosed.
The IMF recommends that the CBCS publish more information about its supervisory approach, including how risks are assessed, how resources are allocated, and what outcomes are achieved.
Improving transparency in this area is seen as critical for maintaining international confidence, particularly as Curaçao continues to position itself as a financial services hub.
Stronger disclosure would also align the jurisdiction with global standards and help demonstrate the effectiveness of its regulatory framework.