The most important obligation of a listed business is to register with the Financial Intelligence Unit (FIU) .The following represents a list of other obligations:
1.To report suspicious transactions and activities
2.To obtain and verify customer information in accordance with Regulations 15 and 16 of the Financial Obligations Regulations (FORs) ;
3.To keep records of customer information for 6 years (Regulation 31 of the FORs);
4.To provide the FIU with a copy of those records once requested in writing;
5.To provide Law Enforcement Agencies with a copy of those records once requested in writing;
6.No tipping off in accordance with section 51 Proceeds of Crime Act (POCA);
7.To reference every customer’s name against the 3 Sanction lists (UN 2253 List, FATF List of Non- Cooperative Countries and Territories and the TT Consolidated List of High Court Orders .
8.To conduct Enhanced Due Diligence (EDD) on PEPS in accordance with regulation 20 of the FORs ;
9.To conduct an internal and external Anti Money Laundering Audit annually;
10.To attend AML training every year;
11.To conduct Due Diligence on new employees (KYE).
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.
THE LAW OFFICE OF ANTOINETTE SYDNEY LAW IS LOCATED ON MONTROSE MAIN ROAD CHAGUANAS, TRINIDAD AND TOBAGO
Consultation fee is $300 TTD per hour.
I am a Certified Professional in the following areas:
Anti-Money Laundering and Financial Crimes;
Fraud Risk Management;
Anti-Money Laundering (AML) Training for staff, directors;
Anti-Money Laundering Audits;
Compliance Program drafting;
Consulting services and much more.
#amlexpert #antoinettesydney #sydneygroup #trinidadonlinelawyer #asydneygroup.com #trinidad #company #companies #lawyer #caribbean #aml #cft #frm #fraudrisk #graphicdesign #tax #taxation #taxes #nis #vat #bir #fiu #compliance #complianceofficer #realestate #casinos #cardealer