Trinidad and Tobago Launches Criminal Law Enforcement Agencies for Financial Crime
Combating Financial Crime: A Major Move Forward
In a significant effort to combat financial crime, Trinidad and Tobago has designated law enforcement authorities responsible for investigating money laundering and terrorist financing within the framework of national anti-money laundering (AML) and combating the financing of terrorism (CFT) policies.
Designated Law Enforcement Authorities
The country’s competent authorities have been tasked with:
- Expeditiously identifying, tracing, and initiating actions to freeze and seize property suspected of being proceeds of crime
- Conducting proactive parallel financial investigations alongside traditional criminal investigations into money laundering, terrorist financing, and predicate offences
Multi-Disciplinary Groups and International Cooperation
The country has established permanent or temporary multi-disciplinary groups specialized in:
- Financial or asset investigations
- Cooperative investigations with appropriate competent authorities in other countries when necessary
Resources for Effective Combat
The government has ensured that law enforcement agencies and prosecutorial authorities have adequate:
- Financial resources
- Human resources
- Technical resources to effectively combat financial crime
Collaboration and Professional Standards
Designated law enforcement authorities will work closely with anti-corruption enforcement authorities, which have been empowered to investigate money laundering and terrorist financing offences arising from or related to corruption offences. Staff members are expected to maintain:
- High professional standards
- Confidentiality
- Integrity
Strengthening Financial Crime-Fighting Capabilities
The move is seen as a significant step towards strengthening Trinidad and Tobago’s financial crime-fighting capabilities, bringing perpetrators of such crimes to justice, and enhancing the country’s reputation in the international community.