Financial Crime World

Financial Fraud on the Rise in Trinidad and Tobago: What You Need to Know

The Financial Investigation Branch (FIB) of the Trinidad and Tobago Police Service (TTPS) has been at the forefront of combating financial fraud in the country. The unit is responsible for investigating and prosecuting individuals for offenses related to money laundering, terrorist financing, and the financing of weapons of mass destruction.

Mandate

The FIB’s core mandate includes:

  • Investigating and prosecuting offenses related to money laundering
  • Investigating and prosecuting offenses related to terrorist financing
  • Investigating and prosecuting offenses related to the financing of weapons of mass destruction

In addition to its core mandate, the FIB also investigates and forfeits cash seized by police officers under the Proceeds of Crime Act (POCA). Only police officers at the rank of sergeant and above are authorized to seize cash, which must be in excess of TT$20,000.00 or its equivalent in other currencies.

Contact Information

The FIB is based on the 13th floor of Riverside Plaza, Besson Street, Port of Spain, and can be contacted by phone at (868) 627-4281.

Importance of Combating Financial Fraud

Financial fraud continues to pose a significant threat to national security and economic stability. The FIB remains committed to combating this menace and protecting the interests of citizens and businesses alike.

Upcoming Series

In an effort to educate the public on the dangers of financial fraud, we will be exploring the various types of financial fraud that are prevalent in Trinidad and Tobago, as well as providing tips and advice on how individuals can protect themselves from falling victim to these schemes. Stay tuned for our upcoming series on this important topic.

Types of Financial Fraud

Some common types of financial fraud include:

  • Investment scams
  • Online banking scams
  • Credit card scams
  • Mortgage fraud
  • Identity theft

Protecting Yourself

To protect yourself from financial fraud, be sure to:

  • Be cautious when investing in unfamiliar schemes or products
  • Verify the authenticity of online transactions and requests for sensitive information
  • Monitor your credit reports and bank statements regularly
  • Keep your personal and financial information secure
  • Report any suspicious activity to the authorities