Enforcement Statistics

Number of Entities subject to Enforcement by the Financial Intelligence Unit of Trinidad and Tobago

                        Sector                                                         Number of Entities subject to Enforcement
Attorney-at-Law8
Accountant8
Art Dealer17
Cooperative Credit Unions194
Gaming/Pool Betting5
Jeweller47
Motor Vehicle Sales134
Private Members’ Club85
Real Estate95
Trust and Company Service Provider5
National Lotteries Online Betting Games1
Money Value Trust Services0
Other Financial Institutions47
Postal Services1
TOTAL647

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 →
395205389647

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  →
313160213495

(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.

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. CV2014-00862In the matter of an Application under Section 18(G) (8) of the Financial Intelligence Unit of Trinidad and Tobago ActThe Financial Intelligence Unit of Trinidad and Tobago (Claimant) v New World Members Club Limited (Defendant)Dean-Armorer, Mira JDate of Delivery – 08.05.2014
  • Claim No. CV2014-00863In the matter of an Application under Section 18(G) (8) of the Financial Intelligence Unit of Trinidad and Tobago ActThe Financial Intelligence Unit of Trinidad and Tobago (Claimant) v Jerry’s Club Limited (Defendant)Charles, Joan JDate of Delivery – 10.06.2014