Financial Crime World

Here is the rewritten article in Markdown format:

Trinidad and Tobago’s Regulatory Compliance Framework Under Spotlight

As the business landscape becomes increasingly complex, companies operating in Trinidad and Tobago are under growing pressure to ensure compliance with domestic and international regulations. In response, KPMG has launched a comprehensive regulatory compliance framework to support companies in Trinidad and Tobago.

The Importance of Effective Compliance Programs

Companies operating in Trinidad and Tobago must maintain effective Anti-Money Laundering (AML), Combating the Financing of Terrorism (CFT), and Countering Proliferation Financing (CPF) systems. This is in line with legislative requirements, such as the Financial Obligations Regulations 10(2)(a) and TTSEC Guidelines 2018, part 2, 11(1). Additionally, guidelines from international organizations like the Financial Service Commission Barbados and Central Bank of Barbados must be followed.

KPMG’s Regulatory Compliance Framework

KPMG offers a comprehensive regulatory compliance framework designed to help businesses identify, manage, and mitigate their risk exposures in line with legislative requirements and industry best practices. The firm’s professionals have over 25 years’ combined experience in performing regulatory compliance assessments and are committed to helping businesses thrive in an increasingly complex regulatory environment.

AML/CFT/CPF Services

KPMG’s AML/CFT/CPF services include:

  • Regulatory compliance assessment services
  • Readiness and health check reviews
  • Program design, build, and execution

The firm’s professionals work closely with clients to identify areas for improvement and provide recommendations for enhanced compliance.

FATCA Services

In addition, KPMG offers Foreign Account Tax Compliance Act (FATCA) services, including assessments of policies, procedures, and systems for compliance with the Trinidad and Tobago Tax Information Exchange Agreements (United States of America) Act, 2017 (TIEAA).

Staying Proactive in a Complex Regulatory Environment

As the regulatory environment is constantly evolving, companies must be proactive in ensuring they are compliant. KPMG’s comprehensive framework is designed to support businesses in Trinidad and Tobago as they navigate this complex landscape.

“We understand the importance of effective compliance programs for companies operating in Trinidad and Tobago,” said a KPMG spokesperson. “Our experts have over 25 years’ combined experience in performing regulatory compliance assessments, and we are committed to helping businesses thrive in an increasingly complex regulatory environment.”