Recommendation 8 of the Financial Action Task Force mandates that counties assess the adequacy of the laws and regulations with respect to Non-Profit Organizations (NPOs). NPOs are susceptible to being used to finance terrorism. In 2019, the Non-Profit Organizations Act No. 7 of 2019 (NPOA) was enacted and is in effect.
By virtue of this piece of legislation, NPOs now fall under the ambit of AML/CFT/PF regime in Trinidad and Tobago.
The Financial Intelligence Unit (FIU) is the supervisor of NPOs that earn more than $500,000 in gross annual income.
About the Author: Antoinette Sydney LLB LEC CAMLFC CFRMP, Bar No. SYA2015211, Attorney at Law. The author is the first Online Lawyer based in Trinidad and Tobago. She has clients in Guyana, St Vincent, Barbados, the British Virgin Islands and North America. She specializes in Corporate Law and Anti-Money Laundering Compliance. She helps clients to start their Online Business Empire.
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