The Financial Obligations Regulations 2010, as amended (the FOR) names the Central Bank of Trinidad and Tobago (the Central Bank) as a Supervisory Authority for the financial institutions that it regulates. As such, the Central Bank is responsible for ensuring that licensed institutions under the Financial Institutions Act 2008, registrants under the Insurance Act Chap 84:01, the Home Mortgage Bank Act Chap 78:08, Bureaux de change, and money remittance businesses comply with Anti-Money Laundering (AML), Combatting the Financing of Terrorism (CFT) and Counter Proliferation (CPF) financing legislative and regulatory requirements.
Anti-Money Laundering, Combating the Financing of Terrorism & Counter Proliferation Financing (AML/CFT/CPF)
The Role of the Central Bank in AML/CFT/CPF
AML/CFT/CPF Strategy
In addition, as part of its regulatory function, the Central Bank issues Guidelines and Circular letters which provide guidance to the industry in respect of anti-money laundering (AML), combatting the financing of terrorism (CFT) and counter proliferation (CPF) on processes, systems and other practices to ensure compliance with the legislation.
The Central Bank also contributes to national initiatives in the fight against money laundering through its participation on the National Committee on Anti-Money Laundering (AML) and Combatting the Financing of Terrorism (CFT) and in making technical presentations on the legislation at various conferences and workshops held locally, with AML/CFT/CPF legislative and regulatory requirements.
