Financial Crime World

Money Laundering Investigation Techniques in Trinidad and Tobago Under the Spotlight

The Financial Intelligence Unit of Trinidad and Tobago (FIUTT) is a key player in detecting and deterring money laundering and financing of terrorism, working closely with local law enforcement agencies, regulators, and international counterparts. To provide a safe and stable financial environment, FIUTT employs various techniques in its investigation efforts.

Techniques Used by FIUTT

  • Collecting financial intelligence and information from reporting entities such as:
    • Banks
    • Financial institutions
    • Listed businesses
  • Analyzing data and disseminating reports to law enforcement agencies
  • Exchanging information with other Financial Intelligence Units (FIUs) globally, either spontaneously or upon request

To stay ahead of the curve, FIUTT monitors trends, patterns, and typologies in money laundering and financing of terrorism techniques. This includes producing strategic analysis reports that inform policy decision-makers and provide proactive intelligence to law enforcement agencies.

Compliance Monitoring and Enforcement

FIUTT conducts compliance monitoring and enforcement activities, including:

  • On-site examinations
  • Desk-based reviews
  • Outreach programs

Additionally, FIUTT provides guidelines to reporting entities to ensure they understand their obligations under anti-money laundering and counter-terrorism financing (AML/CFT) laws.

Combating Terrorist Financing

To combat terrorist financing, FIUTT maintains a Consolidated List of High Court Orders, which freezes the assets of listed entities and individuals deemed to be involved in terrorist activities. The list is updated regularly and circulated to all financial institutions and listed businesses in Trinidad and Tobago.

Guiding Legislation

FIUTT’s efforts are guided by several pieces of legislation, including:

  • Financial Intelligence Unit of Trinidad and Tobago Act, Chap. 72:01
  • Proceeds of Crime Act, Chap. 11:27
  • Anti-Terrorism Act, Chap. etc.

Learn More about FIUTT

For more information on FIUTT’s functions, roles, and techniques, please visit their website at http://www.fiu.gov.tt/.