Financial Crime World

Suriname Steps Up Efforts Against Terrorism Financing with Stricter Regulations

In a bid to clamp down on terrorism financing, Suriname has strengthened its anti-money laundering laws and regulations, according to officials.

Ratification of International Convention

The country’s National Assembly has ratified its accession to the International Convention for the Suppression of the Financing of Terrorism, marking a significant milestone in the fight against global terrorism. This move demonstrates Suriname’s commitment to combating terrorism financing and preventing the misuse of its financial system.

Strengthened Anti-Money Laundering Laws

Since 2002, Suriname has had an anti-money laundering law in place, with the Disclosure of Unusual Transactions (Financial Services) Act last amended in 2016. The country is also a member of the Caribbean Financial Task Force, which has published several reports evaluating Suriname’s progress in combating money laundering and terrorist financing.

Progress in Combating Money Laundering

According to the latest report by the task force, dated May 31, 2017, Suriname has made significant strides in improving its anti-money laundering regime. The country has established a legal and regulatory framework that meets its commitments under an action plan agreed with the Caribbean Financial Task Force.

Addressing Strategic Deficiencies

In addition, Suriname has implemented measures to address strategic deficiencies identified by the task force, marking a major step forward in the fight against terrorism financing. These efforts have been praised by the international community, with the task force noting that Suriname has made significant progress in improving its anti-money laundering and combating the finance of terrorism regime.

Key Takeaways

  • Suriname has strengthened its anti-money laundering laws and regulations to combat terrorism financing.
  • The country has ratified the International Convention for the Suppression of the Financing of Terrorism, demonstrating its commitment to combating terrorism financing.
  • Suriname has made significant progress in improving its anti-money laundering regime and addressing strategic deficiencies identified by the Caribbean Financial Task Force.