News

As Trinidad and Tobago awaits the results of an intergovernmental review of its anti-money laundering regime in November, it has one inarguable success to boast of: the number of suspicious activity reports filed by its businesses jumped 11 percent last year, reaching a record total. But the jurisdiction's regime for reporting suspicious transactions is far from perfect, and the rise in regulatory filings masks serious hurdles to greater transparency, according to consultants and individuals who have worked in the government. For one, many compliance officers fear that reporting suspicious clients could result in professional or even violent reprisals. "It's such...