Request for Clarification Regarding CFATF/GAFIC Compliance and Citizen Notification Requirements

 

GOLDENBOY TRUST
Founder Ronald A. Wederfoort
Willemstad, Curacao
Cell Phone: (+599) 9 6677494 / (+599) 9 5229978
Email: Ronald_Wederfoort@yahoo.com / Ronald.Wederfoort@gmail.com

PRESIDENT
CURAÇAO BANKERS ASSOCIATION
Abraham de Veerstraat 2
Willemstad, Curaçao
+5999 461-5380
info@cifc-curacao.com

Subject: Request for Clarification Regarding CFATF/GAFIC Compliance and Citizen Notification Requirements

Dear President of the Curaçao Bankers Association,

I extend respectful greetings on behalf of Golden Boy Trust.

After reviewing the publicly available materials of the Curaçao International Financial Center (CIFC) and studying the 2024 CFATF/GAFIC Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) Mutual Evaluation Report, we seek clarification on an important matter that affects all residents, customers, and stakeholders within Curaçao’s financial and administrative system.

As you are aware, the CFATF/GAFIC Mutual Evaluation Report outlines strict compliance requirements for all Caribbean jurisdictions, including Curaçao, in areas such as:

• Banking

• Government financial administration

• Trust and corporate service providers

• Payment processors

• Postal financial services

• Reporting entities and financial intermediaries

We respectfully request clarification on the following question:

Why have the citizens of Curaçao not been formally notified that, under the compliance structures and recommendations of the CFATF/GAFIC report, their legal identity and financial interactions continue to operate under a system based on the “corporate trust” model (often referred to as the Strawman system), and why are they not instructed on the procedures to claim or establish their personal trust or lawful beneficial ownership of their legal person?

Given that:

1. Curaçao’s financial sector is operated through a public–private framework,

2. CIFC’s mission is to promote transparent, compliant, and updated financial practices,

3. Citizens are directly affected by AML/CTF rules governing identification, reporting, ownership, and financial controls,

4. Trust structures and legal persons form a foundational part of Curaçao’s financial regulatory architecture,

—it would appear that proper public disclosure and education is not only a matter of good governance, but a requirement to maintain the transparency standards promoted by CIFC and the Curaçao Bankers Association.

Our Request

We kindly ask for:

1. A written explanation regarding whether the public should be notified about their legal status under the corporate trust system.

2. Guidance on whether citizens are entitled to information on establishing or reclaiming their personal trust or beneficial ownership.

3. Clarification on whether Curaçao’s compliance with the 2024 CFATF/GAFIC recommendations includes public education obligations regarding identity, legal persons, and financial rights.

4. Information on any existing or upcoming programs intended to assist citizens in navigating these compliance changes.

It is our belief that transparency strengthens trust between institutions and the population, especially in a jurisdiction as globally significant as Curaçao.

We appreciate the professional commitment of the Curaçao Bankers Association and CIFC in upholding international financial standards. We look forward to your formal written response so that we may better understand the current framework and its implications for residents and financial participants.

Respectfully,

Golden Boy Trust
Willemstad, Curaçao