National Risk Assessment - NRA

The Caribbean Financial Action Task Force (CFATF) is an

organization of states and territories of the Caribbean basin which have agreed to implement common counter-measures in accordance with the Financial Action Task Force (FATF) against money laundering,

terrorism, and proliferation financing.

Recommendation 1 of the FATF, the global standard-setting body against Money Laundering and Terrorism Financing, indicates that every country should identify, assess, and understand these risks

for its economy, its system, and its governance framework through a National Risk Assessment (NRA).

For Sint Maarten, this NRA is designated as “B-14” in the Country Packages related to development cooperation with Holland, namely: “Saint Maarten will comply with the guidelines of the CFATF with

regard to combating fraud and money laundering”.

A project organization consisting of representatives of different relevant financial, judicial, and governmental organizations in Sint Maarten have been established to develop this NRA. The lead ministry to guide this assessment is the Ministry of Justice. 

However, other leading institutions and ministries are the Central Bank of Curacao and Sint Maarten (CBCS), the Ministry of Finance, the Ministry of TEATT, and the Ministry of General Affairs.