Here is the rewritten article in Markdown format:
Suriname’s Drug Trade Threatened by Lack of Action Against Money Laundering
=====================================================
The porous borders and inadequate anti-money laundering measures in Suriname have created an environment where drug traffickers can easily import and export illicit substances.
High-Risk Sectors for Money Laundering and Corruption
According to a recent National Risk Assessment (NRA), the following sectors are at high risk of money laundering and corruption:
- Used car industry
- Small-scale jewelry business
Despite being aware of the risks, these industries refused to participate in the NRA.
Banking Sector Progress, but More Needs to be Done
The banking sector has made some progress in cleaning up its act, but more needs to be done to comply with international standards. The Foreign Exchange Commission is also falling short, lacking awareness and expertise in preventing money laundering and terrorist financing.
- Customs authorities are not adequately focusing on tackling unauthorized exports and imports of cash, precious metals, and other tradable goods
Experts warn that Suriname’s failure to address these issues could result in the country being blacklisted by international organizations.
Government’s Commitment to Reform
The new government led by former police chief Chan Santokhi had raised hopes for a crackdown on corruption. However, the appointment of family members to key positions and the vice president’s criminal past have raised concerns about the administration’s commitment to reform.
- Civil society’s limited involvement in the fight against money laundering and corruption has also hindered progress
- Corruption is still widely tolerated in Suriname, with many citizens seeing it as an inevitable part of everyday life
The Country’s Oil Wealth: A Double-Edged Sword
Suriname’s potential oil wealth could exacerbate these problems if not addressed. As neighboring Guyana has shown, major oil discoveries can lead to corruption and money laundering if left unchecked.
International experts have warned that Suriname must take proactive measures to combat corruption and money laundering in order to access external financial assistance and realize its developmental potential.
The Government’s Efforts: A Step in the Right Direction
The government’s efforts to give more powers to the judiciary to handle corruption cases are a step in the right direction. However, much work remains to be done to tackle deep institutional corruption and money laundering in Suriname.
Suriname’s Future Hangs in the Balance
As the country navigates its next decade, it must prioritize tackling corruption and money laundering to avoid falling into the same trap as other oil-producing nations. The world is watching Suriname’s progress closely, and only time will tell if the country can rise to the challenge.