Trinidad and Tobago

New Documents

FIU of Trinidad and Tobago Removes Three Entities from Terrorism Sanctions List

The Financial Intelligence Unit of Trinidad and Tobago published a notice concerning the removal of three entities from its consolidated sanctions list pursuant to a High Court order under the Anti-Terrorism Act.

March 23, 2022

Trinidad and Tobago FIU Removes Individual from Sanctions List

The Financial Intelligence Unit of Trinidad and Tobago issued a notice concerning the removal of one individual from the jurisdiction’s consolidated sanctions list pursuant to Section 22 B (11) of the Anti-Terrorism Act.

March 23, 2022

Trinidad and Tobago FIU Amends Guidance on PEPs

January 19, 2022

Trinidad and Tobago FIU Issues Updated CDD Guidance

January 19, 2022

Trinidad and Tobago FIU Highlights New FATF Statements

November 11, 2021

News

Midweek Roundup: UK Plans AML Tax, White Supremacists Publish Confidential Financial Intelligence Memo Online, and More

Latvia investigates 50 individuals suspected of financial crimes, India detains Yes Bank founder on suspicion of money laundering, and more, in the midweek roundup.

March 11, 2020

Weekly Roundup: JPMorgan Chase Exits AML Enforcement, Latvia Seizes Ports from Oligarch, and More

Trinidad and Tobago targets human traffickers, U.S. blacklists Iranian shipping firm and airline, and more, in this week’s roundup.

December 13, 2019

Caribbean Traffickers Funneled Funds to China through MSBs

December 11, 2019

Legal Brief: Panama Papers Turned Global Attention Toward Whistleblowers

July 16, 2019

Caribbean Banks Found Workarounds After Losing Correspondent Accounts

August 7, 2018

Enforcement Actions

0 Items Found

Key Documents

Trinidad and Tobago Consolidates Confiscation Laws

November 1, 2000

Trinidad and Tobago Prohibits Terrorist Financing

September 13, 2005

Trinidad and Tobago Stipulates Employee AML Training

January 19, 2010

Trinidad & Tobago Passes Law to Mandate the Establishment of an FIU

October 9, 2009

Trinidad and Tobago Issues Regulations Stipulating FIU Responsibilities

February 10, 2011

Important Facts

  • The U.S. State Department labels Trinidad and Tobago as a major money laundering jurisdiction. The country's close proximity to drug producing countries, stable economy and developed financial systems make it a transshipment point for criminals who want to launder money. Illegal gaming, drug trafficking, illegal arms sales, fraud and public corruption are the biggest sources of laundered funds in the jurisdiction. Structuring, co-mingling, and trade-based money laundering of funds are used to move illicit funds into and out of the formal economy. Private clubs that operate illegal casinos, online gaming operations, and other forms of gaming are also used to move large amounts of cash throughout the country. There is increasing use of virtual currencies which remain unregulated. As part of a broader restructuring in 2019,  the Trinidad and Tobago Police Service merged several units into a Financial Crimes Division and brought charges against 17 individuals for money laundering.
Source: 2020 International Narcotics Control Strategy Report (INCSR)  

Rankings

FATF i | 2013 Methodology

Technical Effectiveness
Compliant : 26 High : 0
Largely Compliant : 9 Substantial : 1
Partially Compliant : 5 Moderate : 1
Non-Compliant : 0 Low : 9

A "graylisted" country as of Oct. 19, 2018. Trinidad and Tobago's technical compliance was re-rated in a June 17, 2019 follow-up report

BASEL i

Rank : 91/141
Score : 4.75/10

TRANSPARENCY INTERNATIONAL i

Rank : 85/180
Score : 40/100

Tax Justice Network i

Rank : 127/133
Score : 65/100