Curacao International Financial Services Association (“CIFA”)
The Curaçao International Financial Services Association (“CIFA”) is the representative association of professionals in the international financial services sector of Curaçao. CIFA’s vision is to make Curaçao the gateway of choice, both inbound and outbound, for international financial services. Curaçao's reputation as a solid and integer financial center is key in the development and implementation of this vision.
Therefore, CIFA is actively collaborating with public and private sector stakeholders to guide our jurisdiction towards a successful outcome of the upcoming Caribbean Financial Action Task Force (“CFATF”) Mutual Evaluation (“ME”). This Mutual Evaluation is a critical assessment to determine to what extent Curaçao is complying with global standards on Anti-Money Laundering (“AML”) and Combating the Financing of Terrorism (“CFT”) and the Financing of Proliferation of weapons of mass destruction (“CFP”). In addition to testing the compliance with the global standard, the CFATF will also assess the effectiveness of the measures that Curaçao takes. The conclusion(s) of the CFATF ME of Curaç
The ME focusses on the overall framework of Curaçao, including laws, regulations as well as both the public and private sector compliance and effectiveness. Many of these items are outside of the span of control of CIFA and its members (all within the private sector), since ultimately the public sector is responsible for the
implementation of the AML/CFT/CFP regime. It is however CIFA’s firm belief that this upcoming ME is not just for the public sector/government to work on.
This concerns us all and the impact of a negative outcome will be felt by us all. And by “us all”, we are not referring to the CIFA members, but to all persons and businesses in Curaç
-Assist in the creation of awareness on the subject of AML/CFT/CFP across Curaç
While we cannot determine or decide the outcome of this ME - the CFATF assessors will collect information and follow their pre-determined methodology - the CIFA as an engaged, committed and responsible association will do all that is in its power to have the CFATF reach a positive conclusion on Curaç