During this reporting period, the FIUTT’s strategic priorities were further actualised, with the approval of the Ministry of Finance. Strategic priorities included, procurement for the digitisation of the Compliance and Outreach Division business operations from registration to enforcement; the refresh of the data centre; the upgrade to the security framework; data analytics software engagement; and initial scoping of virtual asset service providers (VASPs) software and training.”

This paper aligns with: 

🔹 FATF Recommendation 1 – Emphasising a risk-based approach to proliferation financing risks 

🔹 FATF Recommendation 7 – Mandating timely implementation of targeted financial sanctions in line with UN Security Council Resolutions

In the area of combatting money laundering, the financing of terrorism, and proliferation financing, the following laws relative to Anti-Money Laundering/Counter Financing of Terrorism/Counter Proliferation Financing (AML/CFT/CPF) have been passed during this period:

The Financial Intelligence Unit of Trinidad and Tobago (“the FIUTT”) has always applied diligence and reverence for the law in the utilization of it powers. The FIUTT therefore ensures that when requests are made to Financial Institutions and Listed Businesses for information, it has sufficient and lawful basis for doing such.

Under the FIUTT Act, the organization can request financial information from a Financial Institution or Listed Business in several circumstances in order to effectively achieve its intended mandate. The FIUTT may request information under numerous circumstances, for example, when analyzing a report/s; collection of data as required for tactical analysis. This is required in order to generate activity patterns, trends and typologies, investigative leads and also identify possible future behavior. Additionally, the FIUTT may request information from a Financial Institution or Listed Business when it receives a request from a foreign FIU or from local Law Enforcement Authorities for financial information.

It is indeed my distinct pleasure, in this year, 2022, to celebrate with all citizens of Trinidad and Tobago, the significant milestone of our 60th year of Independence (a diamond jubilee) as a country and the publication of the FIUTT’s thirteenth Annual Report for 2021/2022.

Amidst the challenges presented during the period under review 2021/2022, the FIUTT continued its operations to strengthen the AML/CFT/CPF regime of the country, in accordance with the Financial Intelligence Unit of Trinidad and Tobago Act, Chap. 72:01 (FIUTTA) and international standards.

The global COVID-19 pandemic has cast a long shadow over the past fiscal year, 2021/2022. The pandemic has caused disruption of unimaginable proportions, affecting all facets of life, not only in Trinidad and Tobago. We continue to pay tribute to, and remember all lives lost and hardships suffered due to COVID-19. As we remember the hardships endured by many, we should also recognise the resilience that Trinbagonians have demonstrated throughout this crisis.