Financial Crime World

Turks and Caicos Islands Takes Step Towards Combating Terrorist Financing

Enhancing Capacity to Combat Financial Crimes

The Turks and Caicos Islands recently hosted a Counter-Terrorism Financing Training Seminar, bringing together over 40 participants from various law enforcement agencies and key government departments. The event aimed to educate and equip professionals with the necessary tools to combat terrorist financing through financial institutions.

Event Highlights

  • Collaborative Efforts: The training session was organized by the Anti-Money Laundering Committee (AMLC) in collaboration with Mr Andrew Mitchell KC, targeting law enforcement agencies and supervisors for the financial sector.
  • International Cooperation: The seminar was part of the Turks and Caicos Islands government’s effort to enhance its systems and ensure that the country continues to secure the global financial system from terrorist financing risks.

Key Participants

  • Royal Turks and Caicos Islands Police Force
  • Integrity Commission
  • Ministry of Immigration and Border Services
  • Office of the Director of Public Prosecution
  • Attorney General’s Chambers
  • National Security Secretariat
  • Gaming Commission
  • Financial Services Commission
  • National AML/CFT Coordinator

Presentations

  • Introduction to Counter-Terrorism Financing by Mr Andrew Mitchell KC
  • The Law in the TCI concerning Counter-Terrorism Financing by Ms Khalila Astwood, Deputy Attorney General
  • Circumvention of Terrorist Financing Sanctions by Mrs Shayone Handfield-Gardiner-Principal Crown Counsel-International

Interactive Session

  • Participants worked together to execute a practical exercise that tested their application of the training objectives.
  • Attendees shared their experiences and challenges during the investigation and prosecution of money laundering and terrorist financing offences.

Key Takeaways

  • The Caribbean Financial Action Task Force emphasizes that countries should ensure that designated law enforcement authorities have responsibility for money laundering and terrorist financing investigations within the framework of national AML/CFT policies.
  • Law enforcement can disrupt terrorist financing by identifying and freezing terrorist assets, investigating financial transactions suspected of being linked to terrorism, working with other law enforcement agencies around the world to share information and coordinate investigations.

Commitment to Combating Financial Crimes

The Turks and Caicos Islands government’s effort to provide capacity building to relevant law enforcement agencies and supervisors for the financial sector is a significant step towards combating terrorist financing through financial institutions. The training seminar demonstrates the country’s commitment to ensuring that its systems are in place to secure the global financial system from terrorist financing risks.