As reported last week, Aruba’s Minister of Finance, Economic Affairs, and Primary Sector, Mr. Geoffrey Wever, represented Aruba at the Caribbean Financial Action Taskforce (CFATF) Ministerial Council meeting in Panama City. CFATF is a regional body of the Financial Action Taskforce, consisting of 25 members, which coordinates efforts among Caribbean nations to strengthen their systems against money laundering, terrorist financing, and the proliferation of weapons of mass destruction.
As a member of the CFATF Ministerial Council, Aruba joined other representatives at the ministerial level to approve the strategic direction and management of CFATF for the period 2025-2028, including subsidiary plans in various operational areas. This meeting also served as a platform for governments to reaffirm their political commitment to the CFATF mandate and to ensure the region is prepared to respond to the global challenge of financial crime.
In 2021, Aruba underwent a mutual evaluation by CFATF and received excellent results. The next evaluation is scheduled for March 2030. Aruba, through various local bodies such as the Central Bank, Public Ministry, and the Financial Intelligence Unit (FIU-Aruba), is actively involved in CFATF’s activities and plenary meetings.
During the first day of the CFATF Council of Ministers meeting, Minister Wever led Aruba’s delegation and met with several regional ministers. In this context, Minister Wever had a discussion with the Premier and Finance Minister of the Cayman Islands, Mr. Andre Ebanks, exchanging ideas and showing interest in the Cayman Islands’ strategy to enhance their financial sector.
The meeting also included a speech by the current President of the Financial Action Taskforce (FATF), Elisa de Anda Madrazo, who addressed all the Ministers and Attorney Generals leading their respective countries’ delegations. In her speech, the FATF President emphasized the region’s commitment to meeting international standards in preventing money laundering, terrorist financing, and weapons proliferation. She acknowledged the difficulties small nations, such as those in the Caribbean, face in meeting international standards due to limited resources but assured continued FATF support for safeguarding the global financial system’s integrity. Minister Wever exchanged thoughts with President De Anda Madrazo and reaffirmed Aruba’s commitment in this area.
Over the two-day meeting, Caribbean nations learned about the procedures of the five rounds of mutual evaluations. In this context, Aruba will be visited by the assessment team in March 2030. Minister Wever also stated that Aruba is well-prepared for this evaluation and aims to pass it successfully.
Minister Wever congratulated CFATF President, Mrs. Fayval Williams, Finance Minister of Jamaica, for the successful accomplishments of CFATF during the past year. He also congratulated Mr. Dale Marshall, Attorney General of Barbados, who will assume the role of CFATF President starting December this year. Mr. Marshall presented his strategic plan for 2025-2026, which was unanimously approved. For the 2026-2027 presidency, Aruba supported the candidacy of the Attorney General of the Turks & Caicos Islands, Rhondalee Braithwaite-Knowles, a respected individual for her role in Aruba’s successful completion of the fourth round of mutual evaluations in 2021.
While the discussions during the CFATF Council of Ministers meeting are confidential, ministers were able to share experiences with one another, committing to support each other during the mutual evaluation process. Minister Wever highlighted that it was an honor for Aruba to have a seat and a voice at the CFATF table, which is maintained through the active participation of our civil servants in CFATF’s monthly virtual meetings.
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