FIU Masthead

Enforcement Statistics up to December 31, 2017

 

1.  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 8
Accountant 8
Art Dealer 17
Cooperative Credit Unions 194
Gaming/Pool Betting 5
Jeweller 47
Motor Vehicle Sales 134
Private Members' Club 85
Real Estate 95
Trust and Company Service Provider 5
National Lotteries Online Betting Games 1
Money Value Trust Services 0
Other Financial Institutions 47
Postal Services 1
TOTAL 647

 

 

2.  Enforcement Action was initiated for breaches in four (4) categories of AML/CFT obligations.

 

Type of Deficiency →
Failure to RegisterFailure to Submit Quarterly Terrorist Property ReportFailure to Rectify Deficiencies Identified at a Compliance ExamFailure to appoint and seek approval for a CO and ACOTOTAL
Number of Entities →
395 205 38 9 647

 

 

 3.  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 ExamFailure to appoint and seek approval for a CO and ACOTOTAL
Number of Entities  →
313 160 21 3 495

 

(b) Directives

One Hundred and Twenty-Six (126) entities were issued with Notices to appear for a FIU hearing pursuant to section 18H FIU Act. Eighty (80) Directives were issued in total. Thirty-Three (33) Directives have been issued for failure to register with the FIU and for AML deficiencies subsequent to a compliance examination. Forty-Seven (47) Directives were issued prior to the legislative amendment of the Financial Obligations Regulations in 2014 for failure to submit a Compliance Programme.

 

 

4.  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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