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AML/CFT


Supervisory Overview

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) and Combatting the Financing of  Terrorism (CFT) legislative and regulatory requirements. 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 and combatting the financing of terrorism 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 legislative and regulatory requirements.

Draft and Consultation Papers

 

Public Statements

The Financial Action Task Force (FATF) is the global standard setting body for anti-money laundering and combating the financing of terrorism (AML/CFT). The FATF has developed a series of Recommendations that are recognized as the international standard for combating of money laundering and the financing of terrorism and proliferation of weapons of mass destruction.  The Caribbean Financial Action Task Force (CFATF) is an organization of twenty-nine jurisdictions of the Caribbean Region, which have agreed to implement the FATF Recommendations.

In order to protect the international financial system from money laundering and financing of terrorism (ML/FT) risks and to encourage greater compliance with the AML/CFT standards, the FATF and CFATF periodically issue public statements identifying and providing updates on jurisdictions with strategic deficiencies in their anti-money laundering and counter-terrorism financing (AML/CTF) regimes.

Financial institutions should take the public statements into account when considering whether a transaction should be reported to the FIU as a suspicious activity or transaction. Financial institutions should also consider the public statements when doing business with customers based in, or connected to the jurisdictions listed in the statements.

CFATF Public Statements
 

FATF
 

Circular letters

 

Circular Letter - AML/CFT Risk Based Supervisory Framework

Circular Letter - Approval of the Compliance Officer and the Designation and/or approval of the Alternate Compliance Officer for Financial Institutions Regulated by more than one Supervisory Authority
 

The Revised Personal Questionnaire and Declaration Form: Clarification of Witness Requirement and Special COVID-19 Provisions
 

Circular Letter – AML/CFT/CPF Self-Assessment Questionnaire
 

Electronic Submission of Correspondence to the Financial Institutions Supervision Department Due to COVID-19 Measures
 

Submission of Regulatory Returns by Licensees and Financial Holding Companies under the Financial Institutions Act, 2008 ("FIA") Due to COVID-19
 

Request for Extension of Deadline for Statutory Submissions
 

Regulatory Treatment Payment Deferrals or Skipped Payments due COVID-19 Measures
 

Circular Letter - AML/CFT/CPF Self-Assessment Questionnaire
 

Circular Letter - Legal Notice No. 157 of 2019 - The Companies (Amendment) Regulations 2019

The Companies (Amendment) Regulations 2019

Circular Letter – Guidance Documents issued by the Ministry of the Attorney General and Legal Affairs

Circular Letter - Legal Notice No. 73 of 2019 - The Financial Obligations (Amendment) Regulations, 2019

Circular Letter - Amendment to the Definition of Financial Institutions under the Proceeds of Crime Act

MOAGLA Guidance: Obligations and rights re Proliferation of WMD
 

MOAGLA Guidance: Abuse of NPOs for Terrorist Purposes
 

MOAGLA Guidance: Obligations and rights re Anti-Terrorism
 

MOAGLA Guidance: Assessing name matches for TFS
 

Circular Letter - Nomination of the designated Alternate Compliance Officer
 

Circular Letter - Proliferation Financing and the Obligations of Regulated Entities
 

Circular Letter - Amendments to the FOR, 2010 and the Miscellaneous Provisions Act, 2018


Circular Letter - Proposed Legislative Amendments re: Proceeds of Crime Act, Chap. 11:27 and Financial Obligations Regulations, 2010

Circular Letter - The Financial Intelligence Unit of Trinidad and Tobago ("FIU") (Enhanced Due Diligence Requirements) Order 2016 

 

Legislative Framework

 

Miscellaneous Provisions (POCA, ATA and FIUA) Act, 2018

Financial Obligations (Amendment) Regulations 2018

Miscellaneous Provisions (Mutual Assistance in Criminal Matters, POCA, FIUA, Customers and Exchange Control) Act, 2018

Economic Sanctions Order Legal Notice no.184

Economic Sanctions Order Legal Notice no.185

The Miscellaneous Provisions (Financial Institutions, Securities and Insurance) Act 12 of 2019

The Miscellaneous Provisions (Proceeds of Crime and Central Bank) Act, 2019

The Proceeds of Crime (Large Transactions) Order, 2019

The Miscellaneous Provisions (FATF Compliance) Act, No. 25 of 2020

The Consolidated Anti-Terrorism Act and Regulations, Chapter 12:07 (Unofficial Version)

The Consolidated Proceeds of Crime Act and Regulations, Chapter 11:27 (Unofficial Version)

The Consolidated Financial Intelligence Unit of Trinidad and Tobago Act and Regulations, Chapter 72:01 (Unofficial Version).

 

AML/CFT Guidelines

 

AML/CFT Risk-Based Supervisory Framework

Joint Regulatory Guidance on Complying with AML/CFT Verification Requirements in light of COVID-19 Measures

Circular Letter – Guideline on Anti-Money Laundering and Combating of Terrorism Financing

Guideline on Anti-Money Laundering and Combating of Terrorism Financing

 

Regulatory Reporting and Forms

 

AML/CFT/CPF Self-Assessment Questionnaire

Alternate Compliance Officer Notification template

 

Related Websites

 

Financial Intelligence Unit of Trinidad and Tobago (FIU)

Trinidad and Tobago Securities and Exchange Commission (TTSEC)

Caribbean Financial Action Task Force (CFATF)

Financial Action Task Force (FATF)

 

Mutual Evaluation Report

 

Trinidad and Tobago 4th Round Mutual Evaluation Report

Trinidad and Tobago 3rd Follow Up Report - June 2019

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