Aruba Bank
US Department Of State Post Report
Local bank accounts may be useful but are not necessary. Employees normally maintain a checking account with an U.S. bank. Neither the post nor local banks are authorized to cash U.S. savings bonds. Travelers' checks can be purchased locally. ... Local banking facilities are comparable to those in the U.S. and arrangements can be made to cash U.S. checks. U.S. ATM/Debit Cards can be used in some local automatic tellers and will allow you to withdraw either US$ or NAF. Many local stores accept VISA and/or MasterCard. ... [Read More]
International Narcotics Control Strategy Reports
FINANCIAL CRIMES AND MONEY LAUNDERINGMONEY LAUNDERINGOVERVIEWIn 1992, the major trends affecting money laundering policy were: (1) further sophistication of money laundering practices; (2) greater investment of drug and other illicit proceeds into established businesses, both to conceal money movements and to capitalize on illicit profits; (3) the internationalization of money laundering networks whose operations involve an ever larger number of countries and territories, regardless of their importance as financial centers or as drug producing or transit countries; and (4) the intensified involvement of the Sicilian Mafia and other criminal organizations in Europe, Asia and the Western Hemisphere who comingle proceeds from many crimes to confound investigators, and are now acting as brokers for funds unrelated to their own trafficking activities. These trends have made it more difficult to differentiate between drug-related money laundering and other forms of illegal money m ... [Read More]
Money Laundering and Financial Crimes
(1) As DEA also points out, "In some cases, the agent (business) may represent a variety of remittance companies. When this is the case, the agent may suggest dividing the deposit, sending a portion with each of the represented businesses (companies). Thus, detection is increasingly challenging."Federal authorities at the conference also highlighted the recent growth of smaller independent remitters (beyond the more established Western Union and MoneyGram systems), particularly of those providing service to and from Mexico. DEA reported that although these remitters provide important legitimate services to migrant worker populations, the location of these businesses, "do not necessarily parallel the employment centers for these laborers. Rather, it appears that the agent locations are primarily located in states without regulations governing the money services industry." ... [Read More]
International Narcotics Control Strategy Reports
US DEPARTMENT OF STATEBUREAU OF INTERNATIONAL NARCOTICS MATTERSINTERNATIONAL NARCOTICS CONTROL STRAGEGY REPORTAPRIL 1994FINANCIAL CRIMES AND MONEY LAUNDERING1994 INTERNATIONAL NARCOTICS CONTROL STRATEGY REPORTINTERNATIONAL MONEY LAUNDERINGOVERVIEWIntelligence findings from North and South America, Eastern and Western Europe, South and East Asia, Africa and the Middle East confirm that another significant shift has occurred in money laundering trends and methods, requiring changes in policy and strategy for 1994.The critical aspects are the volume of non-drug related money laundering; increased investment of illegal proceeds in legitimate business, including the financial industry; and the targeting of financial systems in countries/territories (some with little or no domestic involvement in drug trading or other serious proceeds-generating crimes) to launder drug and other proceeds generated by crimes committed in other jurisdictions.In 1988, when the United Nations Convention was ... [Read More]
LISTING OF COUNTRIES BY INCOME GROUP
Source: The World Bank, World Development Indicators 2001.Sorry, you need a JavaScript capable browser to get the best from this page 1 ... West Bank and Gaza ... [Read More]
Netherlands Antilles (10/04)
In 1993 a referendum confirmed the place of all islands within the union, despite earlier talks debating the constitutional status of the islands in the early 1990s. In 2000, the issue again arose, and in June 2000, Sint Maarten held a nonbinding referendum in which 69% of the population voted for status apart--independence from the federation within the Kingdom of the Netherlands. The Dutch Government does not support such a move--based on fears that Sint Maarten cannot support its own central bank, police force, or larger government--and wishes to be involved in all discussions. This is now a dominant political issue for Sint Maarten and the other islands, and official talks have begun once again. ... [Read More]
DOS/International Information Programs: Public Diplomacy Calendar
11 Currently Underway Mar. 25-Sept. 25 2005 World Exposition, Aichi, Japan 11 July 6 - 8 G-8 Summit, Gleneagles, Scotland 11111 This Week 11 July 8 - 13 ... [Read More]
Country Pick
A AFGHANISTAN [Read More]
M) Money Laundering and Financial Crimes
Glossary of Terms"Criminalized Drug Money Laundering": The jurisdiction has enacted laws criminalizing the offense of money laundering related to drug trafficking. "Criminalized Beyond Drugs": The jurisdiction has extended anti-money laundering statutes and regulations to include non-drug-related money laundering. "Record Large Transactions": By law or regulation, banks are required to maintain records of large transactions in currency or other monetary instruments. "Maintain Records Over Time": By law or regulation, banks are required to keep records, especially of large or unusual transactions, for a specified period of time, e.g., five years. "Report Suspicious Transactions": An "M" (for "mandatory") indicates that by law or regulation, banks are required to record and report suspicious or unusual transactions to designated authorities. A "P" indicates that by law or regulation, banks are permitted to record and report suspicious transactions. An effe ... [Read More]
Aruba (10/04)
STAT-USA/Internet, a service of the U.S. Department of Commerce, provides authoritative economic, business, and international trade information from the Federal government. The site includes current and historical trade-related releases, international market research, trade opportunities, and country analysis and provides access to the National Trade Data Bank. ... [Read More]
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