Curacao Country Summary
Medium Risk
View full Ratings TableSanctions
Lower Concern
FATF AML Deficient List
Lower Concern
Terrorism
Medium Concern
Corruption
Medium Concern
US State ML Assessment
Higher Concern
Criminal Markets (GI Index)
Medium Concern
EU Tax Blacklist
Lower Concern
Offshore Finance Center
Higher Concern
Please note that although the below Summary will give a general outline of the AML risks associated with the jurisdiction, if you are a Regulated entity then you may need to demonstrate that your Jurisdictional AML risk assessment has included a full assessment of the risk elements that have been identified as underpinning overall Country AML risk. To satisfy these requirements, we would recommend that you use our Subscription area.
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Anti Money Laundering
FATF Status
Curacao is not on the FATF List of Countries that have been identified as having strategic AML deficiencies
Compliance with FATF Recommendations
It should be noted that the new style FATF Mutual Evaluation has not yet been undertaken.
The last Mutual Evaluation Report relating to the implementation of anti-money laundering and counter-terrorist financing standards in Curacao was undertaken by the Financial Action Task Force (FATF) in 2012. According to that Evaluation, Curacao was deemed Compliant for 8 and Largely Compliant for 17 of the FATF 40 + 9 Recommendations. It was Partially Compliant or Non-Compliant for 4 of the 6 Core Recommendations.
Sanctions
There are currently no international sanctions in force against Curacao.
Criminality
Rating |
0 (bad) - 100 (good) |
|---|---|
| Transparency International Corruption Index | NA |
| World Bank: Control of Corruption Percentile Rank | NA |
Curacao faces challenges related to crime and corruption, which impact its social and economic stability. Despite these issues, the community demonstrates resilience through various initiatives aimed at enhancing safety and promoting transparency.
Economy
Curaçao boasts a high-income economy with diverse sectors such as tourism, oil refining, and international financial services, supported by robust infrastructure and a strategic Caribbean location. In 2023, the island faced a trade imbalance with exports of approximately $2.107 billion and imports around $2.764 billion, influenced by external factors like reduced demand from Venezuela and tourism fluctuations. Despite these challenges, Curaçao remains an attractive destination for foreign investment, bolstered by government initiatives to enhance economic resilience and a favorable legal framework for international business operations.
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