SURINAME BACKGROUND CHECK

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PRODUCTS IN SURINAME

Data Protection

Data Protection Laws Not Found

There is presently draft Anti-Corruption legislation before the Parliament which has not yet been passed. Presently, the Office of the Attorney General is the key combatant to corruption utilizing the traditional criminal legislation principally the offences of fraud and theft. An Indictment of Political Officials Act was passed in accordance with article 140 of the Constitution of Suriname in order to facilitate the prosecution of a former Minister of Natural Resources who in the line of his duties had allegedly acted corruptly.

Article 140 Those who hold political office shall be liable to trial before the High Court, even after their retirement, for indictable acts committed in discharging their official duties. Proceedings are initiated against them by the Attorney-General after they have been indicted by the National Assembly in a manner to be determined by law. It may be determined by law that members of the High Boards of State and other officials shall be liable to trial for punishable acts committed in the exercise of their functions.

Know Your Customer (KYC) Rules

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, cambios (foreign exchange companies), the construction sector and car dealerships.

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. Offshore banks and shell companies are not permitted. There is a thriving informal sector fueled by large profits from a growing small-scale gold mining sector and the industries that support it that may be vulnerable to money laundering. Suriname‘s significant informal economy is not linked to the majority of money laundering proceeds; rather, they are moved through various corporate entities within the formal economy.

KNOW-YOUR-CUSTOMER (KYC) RULES:

Enhanced due diligence procedures for PEPs:

A PEP is an abbreviation for Politically Exposed Person, a term that describes a person who has been entrusted with a prominent public function, or an individual who is closely related to such a person. The terms PEP, Politically Exposed Person and Senior Foreign Political Figure are often used interchangeably

    • Foreign PEP: NO
    • Domestic PEP: NO

Suriname – KYC covered entities

The following is a list of Know Your Customer entities covered by Suriname Law:

    • Banks and credit unions
    • Asset managers
    • Securities brokers and dealers
    • Insurance agents and companies
    • Currency brokers, remitters, and exchanges
    • Auditors, accountants, notaries, lawyers
    • Real estate agents
    • Dealers in gold or other precious metals and stones
    • Gaming entities and lotteries
    • Motor vehicle dealers

Suriname – Suspicious Transaction Reporting (STR) Requirements:

Number of STRs received and time frame: 61,852,018 in 2010

The following is a list of STR covered entities covered by Suriname Law:

    • Banks and credit unions
    • Asset managers
    • Securities brokers and dealers
    • Insurance agents and companies
    • Currency brokers, remitters, and exchanges
    • Auditors, accountants, notaries, lawyers
    • Real estate agents
    • Dealers in gold or other precious metals and stones
    • Gaming entities and lotteries
    • Motor vehicle dealers

MONEY LAUNDERING CRIMINAL PROSECUTIONS/CONVICTIONS:

Prosecutions: Not available
Convictions: Not available

ENFORCEMENT AND IMPLEMENTATION ISSUES AND COMMENTS:

Concerns have been raised about the effectiveness and speed with which the Government of Suriname (GOS) is addressing international concerns about its money laundering and terrorist financing legislation. The government should swiftly work to address these concerns and provide additional data about its actions. The country should move quickly to fully implement customer identification (especially for politically exposed persons) and unusual transaction reporting procedures. Additionally, Suriname should ensure covered entities are subject to adequate supervision and enforcement programs.

Additional efforts need to be made to ensure border enforcement. Customs and appropriate law enforcement need to investigate trade fraud and illicit value transfer. The GOS should become party to the International Convention for the Suppression of the Financing of Terrorism and the UN Convention against Corruption.

Travel Risk

Security

The decision to travel is your responsibility. You are also responsible for your personal safety abroad. The purpose of this Travel Advice is to provide up-to-date information to enable you to make well-informed decisions.

Crime

Violent and petty crime such as pickpocketing and robbery are common in the capital, Paramaribo, and outlying areas, especially in the major business and shopping districts. Foreigners are particularly targeted. Ensure that your personal belongings, passports and travel documents are secure at all times. Do not show signs of affluence. Avoid walking alone after dark outside the immediate vicinity of major hotels. Theft from vehicles also occurs.

Banditry and lawlessness are a problem in the cities of Albina and Moengo, and along the East-West Highway between Paramaribo and Albina. The Palm Garden (œPalmentuin) in the Dutch area of Paramaribo should be avoided after dark due to illicit activities and the lack of police presence.

Demonstrations

Demonstrations, protests, marches and strikes may occur at any time in the capital, throughout the country and on main highways; sometimes they become violent. Local transportation services can be disrupted. Roadblocks may occur on main roads at any time, causing traffic disruptions. Do not attempt to cross blockades, even if they appear unattended. Because of the unpredictable nature of these demonstrations and the potential for violence, avoid large gatherings and demonstrations, and monitor local news reports.

Road travel

Traffic drives on the left. Road conditions are different from those in Canada. Many thoroughfares do not have sidewalks, forcing pedestrians and bicycles to share the road. In Paramaribo, most roads are paved but not well maintained. Poor road conditions, inadequate lighting, dangerous driving and poorly maintained vehicles pose hazards. Road conditions are worst during and after the rainy seasons. In the interior, some roads are impassable and some bridges are in disrepair.

Because of the possibility of theft or banditry, drive with windows closed and doors locked.

Check the latest conditions with the Foundation for Nature Conservation at:

Stichting Natuurbehoud Suriname (STINASU)

Tel: 597-421-683 or 597-421-579

Email: stinasu@sr.net

Car rentals are available. Vehicles with foreign plates are required to undergo a vehicle overhaul test to ensure that the vehicle meets Surinamese traffic standards. The owner will then be granted a Surinamese licence plate. Avoid driving motorcycles or scooters.

Public Transportation

Avoid using public minibuses. Taxis are available at major hotels. Agree on a fare prior to departure. Air-conditioned taxis will charge more. Do not hail taxis on the street, as they tend to overcharge foreigners.

Domestic flights are subject to delays.

See Transportation Safety in order to verify if national airlines meet safety standards.

Trekking

The dense jungle and local fauna can be hazardous. Contact local authorities for the latest security and travel information.

If you intend to trek:

a) never trek alone;

b) always hire an experienced guide and ensure that the trekking company is reputable;

c) buy travel health insurance that includes helicopter rescue and medical evacuation;

d) ensure that you are in top physical condition;

e) advise a family member or friend of your itinerary;

f) know the symptoms of acute altitude sickness, which can be fatal;

g) register with the Consulate of Canada in Paramaribo; and

h) obtain detailed information on trekking routes before setting out.

General security information

Telecommunication services are poor, especially during heavy rains.

Emergency services

Police response, especially at night, is rare for all but the most serious crimes. Police presence outside Paramaribo is scarce.

Dial 115 for local police, 110 for fire fighters, and 113 for ambulance services.

Summary

Suriname GDP Last Previous Highest Lowest Unit
GDP 5.23 5.01 5.23 0.09 USD Billion
GDP Annual Growth Rate 4.40 3.90 10.80 -8.80 percent
GDP per capita 4636.69 4478.76 4636.69 343.21 USD
GDP per capita PPP 15709.52 15174.46 15709.52 9641.97 USD

Address Format

RECIPIENT
[BUILDING]
[SUBBUILDING]
STREET_NAME [HOUSE_NUMBER]
DEPENDENT_LOCALITY
LOCALITY
SURINAME

Sample

Guesthouse Amice
Gravenberchstraat 5
Paramaribo
SURINAME

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