On 28th November, the Daily Observer in St Maarten reported that the FATF-style regional body CFATF has issued a public statement noting St Maarten’s failure to comply with FATF standards. However, no consequences were imposed against the country just yet, according to Justice Minister Egbert Doran. If the island does not approve the Penal Procedures Code and correct other deficiencies in its AML/CFT regulations it faces consequences. The article says that, in the last 6 years, a total of 11 major laws were introduced to strengthen St. Maarten’s compliance framework.
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