WILLEMSTAD - The Court of First Instance convicted five companies for failure to register with the FIU and issued a fine of NAf. 2,500.00. The convicted companies were 2 car dealers and 3 real estate agents. The criminal investigation started after an official complaint was filed by the FIU (Financial Intelligence Unit Curaçao, formerly the MOT) in April 2019. Subsequently, the Public Prosecutor’s Office issued 44 fines to real estate agents and car dealers. The complaint was filed by the FIU as part of a pilot, where an investigation was carried out on brokers and automobile dealerships that had not registered at the FIU. This registration is mandatory for persons and bodies that are subject to anti-money laundering legislation. Not being registered with the FIU is an offence.
As a result of issuing fines up to Naf. 1.500,-, at the end of April 2019, many companies have now registered with the FIU. The Public Prosecutor’s Office is content with this outcome. However there are still some companies that have not registered and have not paid the fine. These companies had been warned by the Public Prosecutor’s Office to pay the fine. In the end, five companies did not pay their fine and did not register with the FIU, or did not carry out all mandatory registrations with the FIU. These five companies were summoned by the Public Prosecutor’s Office. This concerns two car dealers and three real estate agents.
The five cases were trialed in court on January 13th, 2020. During the hearing, the judge issued a verbal verdict in all 3 cases. The verdict in the other two cases were issued today, January 27th, 2020. All companies have been convicted in line with the Prosecutor’s request. Most of the companies were issued a fine of NAf. 2.500,- . Today’s verdicts have been documented and will be made public.
The Public Prosecutor’s Office says it is very important that persons and bodies that are subject to anti-money laundering legislation, such as real estate agents and car dealers, complete registration at the FIU. Registration is the starting point of the responsibility of these entrepreneurs to report unusual transactions to the FIU. Conducting customer due diligence and reporting unusual transactions are important pillars in the fight against money laundering and terrorist financing. Reports of unusual transactions are essential to make it as difficult as possible for criminals to transfer money from the underground world.
A positive result of this project is the increase in registrations with the FIU by the companies obligated to do so. This includes companies outside of this sector, such as lawyers, judicial and tax consultants and trust services. The FIU in collaboration with the OM will continue to monitor registrations and the reporting of unusual transactions.