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Sanctions:
None applicable
____________________________________________________
Offshore Jurisdiction Blacklists:
Information unavailable.
____________________________________________________
US State Department Money Laundering Report - 2011:
Suriname is not a regional financial center. Narcotics-related
money laundering is closely linked to transnational criminal activity
related to the transshipment of cocaine to the United States,
Europe, and Africa. Domestic drug trafficking organizations and
organized crime, with links to international groups, are thought to
control much of the money laundering proceeds, which are
invested in casinos, real estate, and private sector businesses.
Additionally, money laundering occurs as a result of poorly
regulated private sector activities, such as casinos and car
dealerships, the non-banking financial sector (including money
exchange businesses or “cambios”), and through a variety of
other means, including construction, the sale of gold purchased
with illicit money, and the manipulation of commercial bank
accounts.
Goods are smuggled into Suriname over the land/river borders
with Guyana, Brazil, and French Guiana, as well as via vessels.
Other goods are “smuggled” into Suriname via deceptive bills of
lading, via the shipping ports. This is done mainly to avoid paying
higher import duties. There is little evidence to suggest this is
significantly funded by narcotics proceeds or other illicit proceeds.
Contraband smuggling is not believed to generate funds that are
laundered through the financial system.
Suriname is not an offshore financial center and has no free trade
zones. There is a gold economy in the interior mining region of
the country. Suriname has a significant informal economy;
however, the majority of money laundering proceeds are not
linked to this market but are moved through various corporate
entities within the formal economy. Offshore banks and shell
companies are not permitted in Suriname.
DO FINANCIAL INSTITUTIONS ENGAGE IN CURRENCY
TRANSACTIONS RELATED TO INTERNATIONAL NARCOTICS
TRAFFICKING THAT INCLUDE SIGNIFICANT AMOUNTS OF US
CURRENCY; CURRENCY DERIVED FROM ILLEGAL SALES IN
THE U.S.; OR THAT OTHERWISE SIGNIFICANTLY AFFECT THE
U.S.: NO
CRIMINALIZATION OF MONEY LAUNDERING:
“All serious crimes” approach or “list” approach to predicate
crimes: List approach
Legal persons covered: criminally: YES civilly: NO
CRIMINALIZATION OF TERRORIST FINANCING:
Ability to freeze terrorist assets without delay: NO
UN lists of designated terrorists or terrorist entities distributed to
financial institutions: YES
(Please refer to the Department of State’s Country Reports on
Terrorism, which can be found here: http://www.state.
gov/s/ct/rls/crt/)
KNOW-YOUR-CUSTOMER RULES:
Covered entities: Banks, cambios, public notaries, lawyers,
accountants, and insurance companies
Enhanced due diligence procedures for PEPs: Foreign: NO
Domestic: NO
SUSPICIOUS TRANSACTION REPORTING REQUIREMENTS:
Covered entities: Banks, cambios, public notaries, lawyers,
accountants, insurance companies, car dealerships, jewelry stores
Number of STRs received and time frame: 2,358 in 2010
Number of CTRs received and time frame: Not available
MONEY LAUNDERING CRIMINAL
PROSECUTIONS/CONVICTIONS:
Prosecutions: Four in 2010
Convictions: Two in 2010
Assets forfeited: criminally: Not available civilly: None
RECORDS EXCHANGE MECHANISM:
With U.S.: YES
With other governments/jurisdictions: YES
Suriname is a member of the Caribbean Financial Action Task
Force, a Financial Action Task Force (FATF)-style regional body.
Its most recent mutual evaluation can be found here: http://www.
cfatf-gafic.org/mutual-evaluation-reports.html
ENFORCEMENT AND IMPLEMENTATION ISSUES AND
COMMENTS:
The Government of Suriname (GOS) should assure all non-
financial businesses and professions are subject to and fully
implement customer identification and unusual transaction
reporting procedures. Additionally, Suriname should ensure that
those same entities are subject to adequate supervision and
enforcement programs. The GOS should enact its pending
legislation to enhance its asset seizure and forfeiture regime.
Suriname should implement reforms to enhance the FIU’s capacity
and authority. Additional efforts need to be made to ensure
border enforcement. Customs and appropriate law enforcement
need to investigate trade fraud and value transfer. The GOS
should criminalize terrorist financing and become a party to the
International Convention for the Suppression of the Financing of
Terrorism and the UN Convention against Corruption.
____________________________________________________
US State Dept Narcotics Report 2012 (introduction):
Suriname is a transit zone for South American cocaine en route to
Europe, Africa and, to a lesser extent, the United States.
Suriname’s sparsely populated coastal region and isolated jungle
interior, together with weak border controls and infrastructure,
make narcotics detection and interdiction efforts difficult.
Traffickers are able to move drug shipments into and through
Suriname by land, water and air with little resistance. There is little
evidence of drug production in Suriname. Limited quantities of
cannabis are grown for personal use, and there is evidence of
cocaine consumption among some sectors of the population.
Suriname is a party to the 1988 UN Drug Convention, but its lack
of chemical precursor controls keeps it from full conformity with
the Convention.
For Full report, click here
____________________________________________________
US State Dept Trafficking in Persons Report 2011
(introduction):
(Tier 2)
Suriname is a destination, source, and transit country for women,
men, and children who are subjected to sex trafficking and forced
labor. Women and girls from Suriname, Guyana, Brazil, and the
Dominican Republic are subjected to sex trafficking in the country,
many of them lured with false promises of employment. Forced
labor victims are often men and arrive from Vietnam, Indonesia,
China, and Haiti in search of employment in Suriname; however,
upon arrival, they are subjected to forced labor in factories, the
fishing industry, and agriculture. NGOs and the government
suggest that some Brazilian women could be subjected to
prostitution in Suriname’s interior around mining camps, although
the remote and illegal nature of these camps makes the scope of
the problem unknown. NGOs report that some prostitution of
children occurs in the capital of Paramaribo. Children working in
informal urban sectors and gold mines were also vulnerable to
forced labor.
The Government of Suriname does not fully comply with the
minimum standards for the elimination of trafficking; however, it is
making significant efforts to do so. During the reporting period,
authorities maintained law enforcement efforts by convicting two
trafficking offenders, assisted three sex trafficking victims, and
launched a new trafficking hotline. However, victim identification
and assistance mechanisms remained weak, the government
conducted few awareness-raising efforts, and the government did
not offer foreign victims legal alternatives to their deportation,
resulting in the deportation of two suspected forced labor victims.
For full report click here
____________________________________________________
US State Dept Terrorism Report 2009
Suriname’s lead agency for counterterrorism is the Central
Intelligence and Security Agency. The Ministry of Justice and
Police has a police Counterterrorist Unit and a 50-person “Arrest
Team.” At the end of 2007, the Council of Ministers approved a
new draft counterterrorism law that defined terrorism as a crime,
and provided a framework for more effectively combating
terrorism and the financing of terrorism. This draft legislation was
approved by the State Council and the President in 2008, and
was presented to the National Assembly for discussion. As of
2009, the legislation has not been passed. However, if the
legislation is passed, it should bring Surinamese law in line with
various international treaties dealing with terrorism and could help
pave the way for Surinamese membership in the Egmont Group. A
draft criminal procedure law was approved by the Council of
Ministers in February 2008, which provides the implementing
legislation for the new counterterrorism law, as well as special
investigative tools to assist law enforcement authorities in
detecting and investigating terrorist activities.
In an effort to enhance its border security capabilities, as well as
hamper potential terrorist transit, Suriname began issuing
Caribbean Community-compliant machine-readable passports in
2004. The United States provided watch lists of known terrorists
to Surinamese police, but if any terrorists were present, the
likelihood of apprehending them would be low because of the lack
of border and immigration control, and because Suriname has no
digitized system for registering and monitoring visitors. According
to police sources, the Revolutionary Armed Forces of Colombia
(FARC) has conducted arms-for-drugs operations with criminal
organizations in Suriname.
____________________________________________________
Links:
Worldwide AML Legislation (International Bar Association)
None applicable
____________________________________________________
Offshore Jurisdiction Blacklists:
Information unavailable.
____________________________________________________
US State Department Money Laundering Report - 2011:
Suriname is not a regional financial center. Narcotics-related
money laundering is closely linked to transnational criminal activity
related to the transshipment of cocaine to the United States,
Europe, and Africa. Domestic drug trafficking organizations and
organized crime, with links to international groups, are thought to
control much of the money laundering proceeds, which are
invested in casinos, real estate, and private sector businesses.
Additionally, money laundering occurs as a result of poorly
regulated private sector activities, such as casinos and car
dealerships, the non-banking financial sector (including money
exchange businesses or “cambios”), and through a variety of
other means, including construction, the sale of gold purchased
with illicit money, and the manipulation of commercial bank
accounts.
Goods are smuggled into Suriname over the land/river borders
with Guyana, Brazil, and French Guiana, as well as via vessels.
Other goods are “smuggled” into Suriname via deceptive bills of
lading, via the shipping ports. This is done mainly to avoid paying
higher import duties. There is little evidence to suggest this is
significantly funded by narcotics proceeds or other illicit proceeds.
Contraband smuggling is not believed to generate funds that are
laundered through the financial system.
Suriname is not an offshore financial center and has no free trade
zones. There is a gold economy in the interior mining region of
the country. Suriname has a significant informal economy;
however, the majority of money laundering proceeds are not
linked to this market but are moved through various corporate
entities within the formal economy. Offshore banks and shell
companies are not permitted in Suriname.
DO FINANCIAL INSTITUTIONS ENGAGE IN CURRENCY
TRANSACTIONS RELATED TO INTERNATIONAL NARCOTICS
TRAFFICKING THAT INCLUDE SIGNIFICANT AMOUNTS OF US
CURRENCY; CURRENCY DERIVED FROM ILLEGAL SALES IN
THE U.S.; OR THAT OTHERWISE SIGNIFICANTLY AFFECT THE
U.S.: NO
CRIMINALIZATION OF MONEY LAUNDERING:
“All serious crimes” approach or “list” approach to predicate
crimes: List approach
Legal persons covered: criminally: YES civilly: NO
CRIMINALIZATION OF TERRORIST FINANCING:
Ability to freeze terrorist assets without delay: NO
UN lists of designated terrorists or terrorist entities distributed to
financial institutions: YES
(Please refer to the Department of State’s Country Reports on
Terrorism, which can be found here: http://www.state.
gov/s/ct/rls/crt/)
KNOW-YOUR-CUSTOMER RULES:
Covered entities: Banks, cambios, public notaries, lawyers,
accountants, and insurance companies
Enhanced due diligence procedures for PEPs: Foreign: NO
Domestic: NO
SUSPICIOUS TRANSACTION REPORTING REQUIREMENTS:
Covered entities: Banks, cambios, public notaries, lawyers,
accountants, insurance companies, car dealerships, jewelry stores
Number of STRs received and time frame: 2,358 in 2010
Number of CTRs received and time frame: Not available
MONEY LAUNDERING CRIMINAL
PROSECUTIONS/CONVICTIONS:
Prosecutions: Four in 2010
Convictions: Two in 2010
Assets forfeited: criminally: Not available civilly: None
RECORDS EXCHANGE MECHANISM:
With U.S.: YES
With other governments/jurisdictions: YES
Suriname is a member of the Caribbean Financial Action Task
Force, a Financial Action Task Force (FATF)-style regional body.
Its most recent mutual evaluation can be found here: http://www.
cfatf-gafic.org/mutual-evaluation-reports.html
ENFORCEMENT AND IMPLEMENTATION ISSUES AND
COMMENTS:
The Government of Suriname (GOS) should assure all non-
financial businesses and professions are subject to and fully
implement customer identification and unusual transaction
reporting procedures. Additionally, Suriname should ensure that
those same entities are subject to adequate supervision and
enforcement programs. The GOS should enact its pending
legislation to enhance its asset seizure and forfeiture regime.
Suriname should implement reforms to enhance the FIU’s capacity
and authority. Additional efforts need to be made to ensure
border enforcement. Customs and appropriate law enforcement
need to investigate trade fraud and value transfer. The GOS
should criminalize terrorist financing and become a party to the
International Convention for the Suppression of the Financing of
Terrorism and the UN Convention against Corruption.
____________________________________________________
US State Dept Narcotics Report 2012 (introduction):
Suriname is a transit zone for South American cocaine en route to
Europe, Africa and, to a lesser extent, the United States.
Suriname’s sparsely populated coastal region and isolated jungle
interior, together with weak border controls and infrastructure,
make narcotics detection and interdiction efforts difficult.
Traffickers are able to move drug shipments into and through
Suriname by land, water and air with little resistance. There is little
evidence of drug production in Suriname. Limited quantities of
cannabis are grown for personal use, and there is evidence of
cocaine consumption among some sectors of the population.
Suriname is a party to the 1988 UN Drug Convention, but its lack
of chemical precursor controls keeps it from full conformity with
the Convention.
For Full report, click here
____________________________________________________
US State Dept Trafficking in Persons Report 2011
(introduction):
(Tier 2)
Suriname is a destination, source, and transit country for women,
men, and children who are subjected to sex trafficking and forced
labor. Women and girls from Suriname, Guyana, Brazil, and the
Dominican Republic are subjected to sex trafficking in the country,
many of them lured with false promises of employment. Forced
labor victims are often men and arrive from Vietnam, Indonesia,
China, and Haiti in search of employment in Suriname; however,
upon arrival, they are subjected to forced labor in factories, the
fishing industry, and agriculture. NGOs and the government
suggest that some Brazilian women could be subjected to
prostitution in Suriname’s interior around mining camps, although
the remote and illegal nature of these camps makes the scope of
the problem unknown. NGOs report that some prostitution of
children occurs in the capital of Paramaribo. Children working in
informal urban sectors and gold mines were also vulnerable to
forced labor.
The Government of Suriname does not fully comply with the
minimum standards for the elimination of trafficking; however, it is
making significant efforts to do so. During the reporting period,
authorities maintained law enforcement efforts by convicting two
trafficking offenders, assisted three sex trafficking victims, and
launched a new trafficking hotline. However, victim identification
and assistance mechanisms remained weak, the government
conducted few awareness-raising efforts, and the government did
not offer foreign victims legal alternatives to their deportation,
resulting in the deportation of two suspected forced labor victims.
For full report click here
____________________________________________________
US State Dept Terrorism Report 2009
Suriname’s lead agency for counterterrorism is the Central
Intelligence and Security Agency. The Ministry of Justice and
Police has a police Counterterrorist Unit and a 50-person “Arrest
Team.” At the end of 2007, the Council of Ministers approved a
new draft counterterrorism law that defined terrorism as a crime,
and provided a framework for more effectively combating
terrorism and the financing of terrorism. This draft legislation was
approved by the State Council and the President in 2008, and
was presented to the National Assembly for discussion. As of
2009, the legislation has not been passed. However, if the
legislation is passed, it should bring Surinamese law in line with
various international treaties dealing with terrorism and could help
pave the way for Surinamese membership in the Egmont Group. A
draft criminal procedure law was approved by the Council of
Ministers in February 2008, which provides the implementing
legislation for the new counterterrorism law, as well as special
investigative tools to assist law enforcement authorities in
detecting and investigating terrorist activities.
In an effort to enhance its border security capabilities, as well as
hamper potential terrorist transit, Suriname began issuing
Caribbean Community-compliant machine-readable passports in
2004. The United States provided watch lists of known terrorists
to Surinamese police, but if any terrorists were present, the
likelihood of apprehending them would be low because of the lack
of border and immigration control, and because Suriname has no
digitized system for registering and monitoring visitors. According
to police sources, the Revolutionary Armed Forces of Colombia
(FARC) has conducted arms-for-drugs operations with criminal
organizations in Suriname.
____________________________________________________
Links:
Worldwide AML Legislation (International Bar Association)
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| Further Tables |
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*Please note that FATF deems that a country has significant aml deficiencies if
any of the 'Core' Recommendations, R1, R5, R10, R13, SRII, or SRIV are rated
either Partially of Non-Compliant. These are marked in red.
For FATF to remove a country from the regular follow-up process, it has to be rated
Compliant or Largely Compliant in the above mentioned Core Recommendations
and the following Key Recommendations: -
R3, R4, R23, R26, R35, R36, R40, SRI, SRIII, SRV
Please also note that any risk assessment should take into consideration all
follow-up reports.
any of the 'Core' Recommendations, R1, R5, R10, R13, SRII, or SRIV are rated
either Partially of Non-Compliant. These are marked in red.
For FATF to remove a country from the regular follow-up process, it has to be rated
Compliant or Largely Compliant in the above mentioned Core Recommendations
and the following Key Recommendations: -
R3, R4, R23, R26, R35, R36, R40, SRI, SRIII, SRV
Please also note that any risk assessment should take into consideration all
follow-up reports.
| SURINAME |
| KnowYourCountry |
|
|
| Last Updated: 16 April 2012 |