Financial Crime World

Regulators Play Crucial Role in Preventing Financial Crime in Trinidad and Tobago

In an effort to maintain a strong and dynamic financial sector, regulators in Trinidad and Tobago are working tirelessly to prevent money laundering and financing of terrorism. At the forefront of this fight is the country’s Financial Intelligence Unit (FIU), led by Director Nigel Stoddard.

The FIU’s Mission

According to Stoddard, the FIU’s mission is to effectively detect and deter money laundering and financing of terrorism in collaboration with local law enforcement, regulators, and international counterparts. This effort contributes towards a safe and stable financial, social, and economic environment for Trinidad and Tobago.

Director Nigel Stoddard: A Leader in Anti-Money Laundering

With over 18 years of experience in anti-money laundering and combating the financing of terrorism (AML/CFT), Stoddard brings a wealth of knowledge to his role as Director. A former professional law enforcement officer with 22 years’ service in the Trinidad and Tobago Police Service, Stoddard has spent 12 years working as a financial investigator and intelligence analyst.

Key Highlights of Nigel Stoddard’s Experience:

  • Accredited Financial Investigator: Trained from the Caribbean Anti-Money Laundering Programme (CALP)
  • International Training: Completed training at the Metropolitan Detective Training School in the UK, the Caribbean Financial Action Task Force (CFATF), and the US Department of Justice
  • Country Examiner: Trained to conduct assessments of countries’ AML/CFT regimes

Combating Money Laundering and Terrorist Financing

Under Stoddard’s leadership, the FIU has been active in combating money laundering and terrorist financing through seminars, workshops, and regional and international meetings. He has represented Trinidad and Tobago at several AML/CFT meetings and contributed to the publication of several typology reports by CFATF.

Training and Awareness

Stoddard is also part of the training team at the FIUTT that provides awareness training in compliance to non-regulated financial institutions and listed business (DNFBPs) in Trinidad and Tobago. His efforts have ensured that these entities comply with the AML/CFT regime.

The work of Stoddard and the FIU is crucial in maintaining a strong and dynamic financial sector in Trinidad and Tobago, free from money laundering and financing of terrorism. Their dedication to this cause will undoubtedly contribute towards a safe and stable financial, social, and economic environment for the country.