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HomeNewsCaribbean NewsAruba appointed chair of CFATF

Aruba appointed chair of CFATF

ORANJESTAD, Aruba – At the ministerial level of the Caribbean Financial Action Task Force (CFATF) in Miami, Angelo Brete, director of FIU, Aruba, was appointed chair of the Caribbean Financial Action Task Force for the term 2023-2024.

Aruba now chairs the regional body of the CFATF for the term 2023/2024.as one of the regional organs of the Financial Action Task Force (FATF) that contributes to implementing the policy to combat money laundering, terrorist financing and the proliferation of weapons of mass destruction (WMD).

Aruba in leadership position CFATF

CFATF, as one of the nine regional organs of the Financial Action Task Force (FATF) came into existence in a convention in Aruba in 1990. and established in 1992 through a declaration in Kingston, Jamaica. Aruba is one of the founding fathers of CFATF and will take a leadership position in the regional body. The presidency will be transferred from the Cayman Islands to Aruba, represented by Brete, and the vice-presidency from Aruba to Jamaica.

Aruba is committed to safeguarding financial integrity

In 2021, Aruba achieved a successful evaluation by the CFATF, which positioned Aruba in second place in the Caribbean, behind Bermuda. This significant achievement of Aruba is thanks to the extraordinary work input of the department of legislation and legal affairs, public prosecutor’s office, Central Bank of Aruba, and the financial intelligence unit of Aruba.

Aruba pleads to fortify collaboration between countries in the Caribbean

For the term 2023-2024, Aruba chose the theme ‘‘Strengthening our Caribbean Bond through AML/CFT/CPF compliance to emphasize the importance of the FATF recommendations to maintain the integrity of the financial system in the Caribbean. Aruba urges countries who are strong in certain areas to help other countries who need support. During this year, Aruba helped Belize and intends to help Curacao and St Maarten in their upcoming mutual evaluation.

Aruba is the host of the 57 CFAFT plenary meeting next November

In connection with its CFATF presidency, Aruba will host the 57 CFAFT plenary meeting next November. During this meeting, 250 delegates from member states will visit Aruba to attend a meeting covering various topics, including the evaluation of the two countries.

Minister of finance and culture, Xiomara Maduro congratulates and thanks Brete for assuming the responsibility of representing our country in the position of leadership in CFATF.

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