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 - Supervisory Ladder of Intervention Policy
Circular Letter - TFS Thematic Report
Circular Letter - AML/CFT Risk Based Supervisory Framework
Circular Letter – AML/CFT/CPF Self-Assessment Questionnaire
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
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
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)
AML/CFT Guidelines
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
