Financial Crime: The Menace in Trinidad and Tobago
The Financial Intelligence Unit (FIU) of Trinidad and Tobago has taken a strong stance against money laundering and terrorism financing in an effort to combat the growing threat of financial crime.
Director’s Mission
According to Director Nigel Stoddard, the FIU’s mission is to effectively detect and deter these crimes by working closely with local law enforcement, regulators, and international counterparts. With 22 years of experience in anti-money laundering (AML) and combating the financing of terrorism (CFT), Stoddard is well-equipped to lead the unit.
Background
Stoddard has been at the helm since 2019 and brings a wealth of experience in AML/CFT. He is a former professional law enforcement officer with 22 years’ service in the Trinidad & Tobago Police Service, where he spent 12 years as a financial investigator and financial intelligence analyst in the Counter Drug Crime Task Force.
Education and Training
Stoddard holds an MBA and B.Sc. (Hons) degree in Computing and Information Systems from [University name]. He is also an Accredited Financial Investigator from the Caribbean Anti-Money Laundering Programme and has received training from various institutions, including:
- Metropolitan Detective Training School in UK
- Caribbean Financial Action Task Force
- US Department of Justice
Representation and Contributions
As Director of the FIU, Stoddard has represented Trinidad and Tobago at several regional and international AML/CFT meetings. He is also a member of CFATF’s Risk Trends and Methods Working Group, which contributes to the publication of money laundering and financing of terrorism typology reports.
Combating Financial Crime
In his efforts to combat financial crime, Stoddard has attended and presented in several seminars and workshops on combating money laundering and terrorist financing. He has also led and participated in on-site compliance examinations of non-regulated financial institutions and listed businesses (DNFBPs) to ensure their compliance with the AML/CFT regime.
Vision
The FIU’s vision is for Trinidad and Tobago to have strong and dynamic financial and business sectors free from money laundering, financing of terrorism, and other financial crimes. With Stoddard at the helm, the unit is committed to working tirelessly to achieve this goal.
Conclusion
Under Director Nigel Stoddard’s leadership, the FIU is dedicated to combating financial crime in Trinidad and Tobago. With his extensive experience and training, Stoddard is well-positioned to lead the unit in its mission to detect and deter money laundering and terrorism financing.