YES / NO / DRAFT / IN FORCE / PROPOSED
CREATION OF A CRIMINAL OFFENCE (A.1-C.1) / [1] / / Narcotic Law of 1993 pending
FORFEITURE A.2.b (i) / / The illicit Drug Act of 1999 criminalizes among other things drug trafficking and makes it possible to deprive criminals of illegally obtained profits or advantages. Article 13 paragraph 2 of the Illicit Drug Act regulates the compulsory forfeiture of the proceeds of illicit drug trafficking. / Subject to the introduction of the legislation, proceeds directly (but not indirectly) linked to the commission of a criminal offence will be liable to forfeiture. There is also civil forfeiture
FINANCIAL INFORMATION (sharing of financial information by competent authorities (A.3.a (i)) / / Not by law. However, under the Guideline of the Central Bank To Control and Prevent Money Laundering of May 1996, the Office of the Attorney-General will receive information from financial institutions to take measures or conduct criminal investigations
FINANCIAL INFORMATION (authorization of financial institutions to provide information to authorities on their clients (C.2. a (i )) / [2]
FINANCIAL INFORMATION (information exchange between courts/authorities pursuant to international agreements (A.3.b (i) - C. 2. b (i)) / / There is a Mutual Legal Assistance Agreement with the Netherlands and bilateral police cooperation with several (unspecified) countries, including using INTERPOL channels
FINANCIAL INFORMATION (C.11) / [3]
LEGAL ASSISTANCE, (government authorized to respond to requests for legal assistance from other governments) (C.6) / [4]
LEGAL ASSISTANCE (government authorized to exchange evidence and information in money laundering investigations/prosecutions and for purposes of asset forfeiture (C.12) / [5]
SHARING OF FORFEITED ASSETS (C.7) /
INVESTIGATIVE TECHNIQUES (C.8) /
FINANCIAL TRANSACTION RECORDS (requirement to keep and maintain clear and complete records) (C.10) / / No law, but required by Central Bank Guidelines
EVALUATION AND RECORD-KEEPING (basis or forum for evaluating funds transfer systems and on the basis of the evaluation, record keeping measures for f.i.’s and wire transmitters) (D.6) / [6]
EXTRADITION (C.13) /
SUSPICIOUS/UNUSUAL TRANSACTION REPORTING ( D.2) / / No law, but under Central Bank Guidelines all unusual financial transactions should be reported
RECORDING/REPORTING OF LARGE TRANSACTIONS (D.3) / / No law, but under Central Bank Guidelines all cash transactions over $5,000 should be reported as well as cross-border transport of currency over $10,000
REGULATORY/OVERSIGHT AGENCIES (authority to supervise and impose administrative sanctions) (D.4) / / / Central Bank and Attorney-General’s Office will be monitoring and cooperating on application of the guidelines
ANALYSIS AND EVALUATION OF ANTI-MONEY LAUNDERING LAWS AND OF MONEY LAUNDERING METHODS (D.5) /
NATIONAL FORFEITURE FUND (E.2) /
CENTER FOR THE COLLECTION, ANALYSIS AND SHARING OF INFORMATION (related to money laundering) (E.3) / / A prosecutor has been appointed to monitor application of the Central Bank guidelines. An inter-departmental group is proposed to be established including the Central Bank, the office of the Attorney-General, law enforcement authorities and others
TRAINING (E.5) / / Not at this time, but will be provided for prosecutors and police officers when the law comes into force
[1]There is no specific money laundering law approved yet, however, the new narcotic law of 1998 is providing provisions for criminal investigation against proceeds which are derived from drug trafficking.
[2]No reply
[3]No reply
[4]No reply. Not known if MLAT with Netherlands or other agreements so provide.
[5]Idem
[6]No reply