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Financial Intelligence and Anti-Money Laundering Developments in Turks and Caicos Islands (TCI)
Financial Intelligence Agency-TCI Updates
The TCI Financial Intelligence Agency (FIA-TCI) has recently published several important updates related to financial intelligence, anti-money laundering, and terrorist financing. Key highlights include:
- 3rd Enhanced Follow Up Report & Technical Compliance Re-Rating: The FIA-TCI has released its 3rd Enhanced Follow Up Report & Technical Compliance Re-Rating.
- Memoranda of Understanding: FIA-TCI has signed memoranda of understanding with the Republic of Haiti and the Cooperative Republic of Guyana at the Caribbean Financial Action Task Force Plenary.
Alerts and Awareness
The FIA-TCI has issued several alerts to inform reporting entities and the public about potential financial crimes. These include:
- Fraud Alert: Social Media Scams: The FIA-TCI has issued a Fraud Alert regarding increasing social media scams, which have been reported in suspicious activity reports (SARs).
- Outreach and Awareness Sessions: The FIA-TCI completed its 2023/24 round of Outreach and Awareness sessions to educate reporting entities on their obligations to report suspicious transactions.
SARs and STRs Reporting
The FIA-TCI provides information on the number of SARs/STRs reported to the organization for fiscal years 2016/17 to 2020/21. This data can be accessed on the FIA-TCI website.
Financial Sanctions Notices
The Office of the Attorney General’s website provides access to sanction notices, which are mainly derived from those issued by the UN and EU.
Related Resources
For more information on financial intelligence, anti-money laundering, and terrorist financing in TCI, please visit: