Aruba Country Summary

FATF Status

Aruba is not on the FATF List of Countries that have been identified as having strategic AML deficiencies.

Compliance with FATF Recommendations

The last Mutual Evaluation Report relating to the implementation of anti-money laundering and counter-terrorist financing standards in Aruba was undertaken in 2022. According to that Evaluation, Aruba was deemed Compliant for 18 and Largely Compliant for 15 of the FATF 40 Recommendations. It was deemed Highly effective for 0 and Substantially Effective for 6 with regard to the 11 areas of Effectiveness of its AML/CFT Regime.

Aruba exhibits a relatively stable environment concerning crime and corruption, with a notable level of resilience against criminal activities. The governance structures in place contribute to a lower prevalence of corruption, fostering a sense of security among residents and visitors alike.

Aruba's economy is primarily driven by tourism, which constitutes about 75% of its gross national product, and has faced significant challenges due to high public debt and the impacts of the COVID-19 pandemic. Despite these obstacles, the island is experiencing a gradual recovery, bolstered by a robust tourism sector that includes a substantial number of timeshare residences, contributing to one of the highest GDP per capita rates in the Caribbean. The investment climate remains favorable, with the government promoting foreign investment, particularly in tourism and real estate, while also striving to diversify the economy to ensure sustainable growth amidst rising debt levels.