Financial Crime World

Suriname Makes Strides in Anti-Money Laundering Efforts Amid Growing Global Concerns

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Suriname, a small South American country, has taken significant steps to strengthen its anti-money laundering regulations, responding to growing global concerns about financial stability and integrity.

Since 2002, Suriname has had an anti-money laundering law in place, with the most recent amendments made in 2016. The Disclosure of Unusual Transactions (Financial Services) Act aims to prevent the misuse of financial systems for illegal activities.

International Cooperation

Suriname is committed to combating terrorism financing and has joined the International Convention for the Suppression of the Financing of Terrorism. The National Assembly of Suriname approved the country’s accession to the convention in recent years.

Membership in the Caribbean Financial Task Force

Suriname is a member of the Caribbean Financial Task Force, an organization that works to combat financial crimes and promote cooperation among its member states. In 2009, the task force published a mutual evaluation report on Suriname, identifying several areas where the country needed to improve its anti-money laundering regime.

Progress and Improvement

Since then, Suriname has produced 11 follow-up reports, with the most recent one dated May 31, 2017. The country has also agreed to an action plan with the Caribbean Financial Task Force to address the strategic deficiencies identified in the initial report.

International Recognition

The Caribbean Financial Task Force has praised Suriname for making significant progress in improving its anti-money laundering and combating terrorism financing regime. In a report issued on November 16, 2016, the task force noted that Suriname had established a legal and regulatory framework to meet its commitments made in the action plan.

Importance of Progress

Suriname’s efforts are seen as an important step towards strengthening financial stability and integrity in the region. As global attention focuses increasingly on money laundering and terrorist financing, the country’s progress is likely to be closely monitored by international authorities.

  • Suriname has taken significant steps to strengthen its anti-money laundering regulations.
  • The country has committed to combating terrorism financing and joined the International Convention for the Suppression of the Financing of Terrorism.
  • Suriname has made progress in improving its anti-money laundering regime, with 11 follow-up reports produced since 2009.
  • The Caribbean Financial Task Force has praised Suriname’s efforts, noting that the country has established a legal and regulatory framework to meet its commitments.