Government of Aruba strengthens national cooperation to protect the integrity of its financial and economic system

The 2020 evaluation will serve as the foundation for the update, building on the structure and methodology Aruba used between 2018 and 2020. The focus will be on preserving findings that remain valid, updating areas that have evolved, and addressing aspects that require improvement. Alongside this, a comprehensive analysis of new data will be conducted with the goal of publishing an updated NRA in 2028. This process will provide a deeper understanding of the financial crime risks Aruba faces and how they intersect, helping authorities determine the most effective countermeasures, allocate resources efficiently, and establish clear national priorities.

To support this effort, the Government of Aruba has established a National Secretariat led by the Financial Intelligence Unit (FIU-Aruba) to assist with national coordination. Minister Wever stressed that developing a robust updated NRA relies on reliable data and the active participation of key stakeholders—including the Public Prosecution Service, FIU-Aruba, the Central Bank of Aruba, the Aruba Police Force, Customs, the Tax Department, the Department of Economic Affairs, Commerce and Industry (DEACI) the Department of Legislation and Legal Affairs (DWJZ), the Chamber of Commerce, Free Zone Aruba, NCTVI, and private sector representatives. He emphasized that safeguarding the jurisdiction is a shared responsibility requiring commitment from all parties involved.

Using the World Bank’s assessment tool, the update will reassess money laundering risks across 16 sectors. Questionnaires will be distributed to compile data, after which working groups will review and validate the findings to categorize each sector's risk level and determine Aruba's overall risk profile. The final report will also include targeted recommendations and an action plan, enabling all entities involved in protecting the financial system to align their own risk-based approaches.

According to the proposed timeline, data collection and analysis will continue through 2027, followed by validation and finalization in 2028. The government aims to publish the updated assessment in the third quarter of 2028, subject to timely data submissions, validation milestones, and formal approval.

Minister Wever extended his gratitude to DWJZ for carrying out the secretariat and national coordination duties over the past several years. In particular, he thanked Mr. George Croes and Mr. Marcel 't Mannetje for their dedication and valuable contributions, which played a vital role in Aruba’s positive outcome during the 2021 CFATF mutual evaluation. He also thanked FIU-Aruba for stepping into this additional leadership role and underscored the need for ongoing collaboration among all organizations in the Steering Group.

Through this initiative, Aruba continues to reinforce the integrity of its financial and economic system. Close cooperation between the government, supervisory authorities, law enforcement, and the private sector remains essential to combating financial crime and preparing Aruba for its next round of international mutual evaluations.