Thanks for stopping by!! What happens after registration with the FIU in Trinidad? I am so glad that you asked!
After you submit the RG-1 Form to register with the FIU, your certificate will be prepared and you will be contacted via call to collect same.
Please see below for your obligations post registration with the FIU:
Appoint a Compliance Officer who is competent and experienced with the Anti-Money Laundering and Countering the Financing of Terrorism laws and regulations.
After you appoint this Compliance Officer (CO), the “Fit and Proper” Form must be completed and submitted to the FIU for their approval.
An Alternative Compliance Officer (ACO) must also be appointed.
A Compliance Program must be created using a Risk Based Approach.
Know Your Customer (KYC) Forms must then be created.
All staff and directors must attend Ant-Money Laundering and Countering the Financing of Terrorism Training every year.
There must be an internal and external Anti-Money Laundering audit conducted (not a Financial Audit).
About the Author: Antoinette Sydney LLB LEC CAMLFC CFRMP
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