FIU Masthead

Enforcement Statistics up to September 30, 2016

 

1.  (a) Number of Entities subject to Enforcement by the Financial Intelligence Unit of Trinidad and Tobago

 

                        Sector                                                         Number of Entities subject to Enforcement
Attorney-at-Law 5
Accountant 3
Art Dealer 17
Cooperative Credit Unions 150
Gaming/Pool Betting 5
Jeweller 42
Motor Vehicle Sales 117
Private Members' Club 59
Real Estate 50
Trust and Company Service Provider 4
National Lotteries Online Betting Games 1
Money Value Trust Services 1
Other Financial Institutions 31
TOTAL 485

 

 

1.  (b) Enforcement Action was initiated for breaches in three (3) categories of AML/CFT obligations

 

Type of Deficiency →
Failure to RegisterFailure to Submit Quarterly Terrorist Property ReportFailure to Rectify Deficiencies Identified at a Compliance ExamTOTAL
Number of Entities →
321 155 9 485

 

 

 2.  Response from Enforcement Action

(a) Positive Responses

Type of Deficiency →
Failure to RegisterFailure to Submit Quarterly Terrorist Property ReportFailure to Rectify Deficiencies Identified at a Compliance ExamTOTAL
Number of Entities  →
255 139 4 398

 

(b) Directives

One Hundred and Eight (108) entities were issued with Notices to appear for a hearing at the Financial Intelligence Unit of Trinidad and Tobago. In total Sixty-Eight (68) Directives were issued with Fifty-One (51) of these Directives issued for the failure to develop and implement a Compliance Programme prior to the legislative amendment of the Financial Obligations Regulations in 2014.

 

 

3.  Court Orders Obtained

 

    In the matter of an Application under Section 18(H) (8) of the Financial Intelligence Unit of Trinidad and Tobago Act

    The Financial Intelligence Unit of Trinidad and Tobago (Claimant) vs Varona Limited (Defendant)

    C. Aboud, James J

    Date of Delivery – 06.09.2016

  • Claim No. CV2014-00862

    In the matter of an Application under Section 18(G) (8) of the Financial Intelligence Unit of Trinidad and Tobago Act

    The Financial Intelligence Unit of Trinidad and Tobago (Claimant) v New World Members Club Limited (Defendant)

    Dean-Armorer, Mira J

    Date of Delivery – 08.05.2014

  • Claim No. CV2014-00863

    In the matter of an Application under Section 18(G) (8) of the Financial Intelligence Unit of Trinidad and Tobago Act

    The Financial Intelligence Unit of Trinidad and Tobago (Claimant) v Jerry's Club Limited (Defendant)

    Charles, Joan J

    Date of Delivery – 10.06.2014

 

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