Netherlands Antilles: Governor Saleh Warns Money Laundering Could Sully Reputation

Robert Lee, Tax-news.com, London

20 March 2001

The Governor of the Netherlands Antilles, Jaime Saleh, has applauded the restriction on the number of casinos in St Maarten, saying that the resulting control on their activities helped ward off any criticism of the offshore centre for facilitating money laundering.

The goverment currently has a policy in place of a maximum 10 stand-alone casinos. On a visit to St Maarten last week, Mr Saleh told journalists from island's Daily Herald: 'There have to be limitations, otherwise the market will get saturated. Not only do you have to adhere to the policy, there also has to be a solid control system.' He said that the Netherlands Antilles had to distance itself from activities associated with money laundering for reasons of reputation.

Referring to a recent report of the Drug Enforcement Agency (DEA), in which St. Maarten was specifically mentioned, Mr Saleh warned that attention should be paid to the island's image in connection with money laundering and that that image should not be sullied. He stated: 'This matter deserves great attention. We have to get rid of the perception that this is taking place, that we, the Central and Island Government, don't do anything about it.'

Mr Saleh, who discussed the issue of money laundering with St Maarten's Public Prosecutor on his visit, said that money laundering had to be tackled when substantiated: 'Because you don't just get rid of this perception. You have to put your finger on it,' he said.

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