Financial Crime World

Trinidad and Tobago’s Financial Intelligence Unit Ensures Strong AML/CTF/CPF Regime Despite Grey List Exit

The Financial Intelligence Unit of Trinidad and Tobago (FIUTT) has continued to play a crucial role in the country’s fight against money laundering, terrorist financing, and proliferation financing despite being removed from the Financial Action Task Force’s (FATF) International Co-operation Review Group (ICRG) grey list earlier this year.

Continuing Efforts Against Financial Crimes

According to sources, the FIUTT has been diligently gathering, analyzing, and disseminating financial intelligence to support efforts in combating these financial crimes. As a national centre for financial intelligence, the FIUTT serves as an Anti-Money Laundering, Counter Financing of Terrorism, and Counter-Proliferation Financing (AML/CTF/CPF) Supervisory Authority over non-regulated financial institutions (NRFIs) and listed businesses (LBs) in Trinidad and Tobago.

Ensuring Compliance with International Standards

The unit’s efforts have been instrumental in ensuring the country’s compliance with international standards aimed at preventing the misuse of its financial system. Since exiting the FATF grey list, Trinidad and Tobago has remained under the Enhanced Follow-up Process of the Caribbean Financial Action Task Force (CFATF). Despite this, significant progress has been made, as evident from previous reports.

Unwavering Commitment to Combating Financial Crimes

The country’s commitment to implementing effective measures to combat money laundering, terrorist financing, and proliferation financing remains unwavering. The FIUTT continues to be at the forefront of these efforts, ensuring that Trinidad and Tobago maintains a strong AML/CTF/CPF regime.

  • Key achievements:
    • Diligent gathering, analysis, and dissemination of financial intelligence
    • Effective supervision over non-regulated financial institutions (NRFIs) and listed businesses (LBs)
    • Compliance with international standards aimed at preventing the misuse of its financial system
    • Significant progress made under the Enhanced Follow-up Process of the Caribbean Financial Action Task Force (CFATF)

The FIUTT’s continued efforts demonstrate Trinidad and Tobago’s commitment to maintaining a robust AML/CTF/CPF regime, ensuring the country remains a responsible player in the global financial landscape.