How to Register with the Financial Intelligence Unit (FIU) in Trinidad?AML Compliance Consultants

What is the FIU?

The FIU is the  primary institution for the collection of financial intelligence and information and the analysis, dissemination, and exchange of such financial intelligence this will also include information among law enforcement authorities, financial institution and listed businesses


Which businesses are required to register with the FIU?

Non Regulated Financial Institutions[3]

  • Credit Union
  • Building Society
  • Money or Value Transfer Services

Listed Businesses[4]

  •  Motor Vehicle Sales
  • Real Estate
  • Gaming House
  • Pool Betting
  • National Lotteries On-Line Betting Games
  • Jeweler
  • A Private Members’ Club
  •  An Art Dealer
  • An Accountant, an Attorney-at-law or other Independent Legal Professional
  • Trust and Company Service Providers 

The FIU Form RG 1 must be printed from the FIU website and completed. This form must be submitted to the office of the Financial Intelligence Unit within three months of the registration of the company or business. Within 14 days the FIU will confirm receipt of your registration documents by email or phone call. The FIU will indicate whether your certificate is ready for collection.

What is the penalty for failing to register with the FIU?


What is the penalty for failing to register with the FIU?

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The author is the first Online Lawyer  based in Trinidad and Tobago. She specializes in Corporate Law and Financial Crimes.

Request a quotation: 868 373-1166

Website: http://asydneygroup.com

Services: AML Audits;

AML Compliance Program;

AML Training;

Consulting

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[1]http://www.investopedia.com/terms/a/aml.asp

]http://www.fiu.gov.tt/about_fiu.php?mid=3

3]http://www.fiu.gov.tt/about_fiu.php?mid=4

[4]http://www.fiu.gov.tt/about_fiu.php?mid=4

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What does PEP mean? AML Compliance Consultants

PEP is an acronym for Politically Exposed Person. The FATF Recommendations require the application of additional CDD to business relationship with PEPs due to the potential risk associated with PEPs.

This does not only refer to politicians but there are different categories of PEPs:

Category 1Foreign PEP;

Category2- Domestic PEP;

Category #3 -International Organizations;

Category #4-Immediate Family Category # 5- Close associate

The author is the first Online Lawyer  based in Trinidad and Tobago. She specialises in Anti-Money Laundering Compliance.

She is a Certified Professional in the following areas:

Anti-Money Laundering and Financial Crimes;

Taxation;

Corporate Training;

Fraud Risk Management;

Graphic Design.

Whats app 868 373-1166 for quotation

Website: http://asydneygroup.com

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What does AML mean?:AML Compliance Consultants

AML is an acronym for “Anti-Money Laundering”. Anti-Money Laundering refers to the laws and regulations that mandate supervised entities to implement measures to prevent, detect and report money laundering.

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Whatsapp 868 373-1166 for all your AML Compliance needs.

Website: http://asydneygroup.com

The author is the first Online Lawyer  based in Trinidad and Tobago. She specialises in Anti-Money Laundering Compliance.

She is a Certified Professional in the following areas:

Anti-Money Laundering and Financial Crimes;

Taxation;

Corporate Training;

Fraud Risk Management;

Graphic Design.

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What does the Financing of Terrorism mean?: AML Compliance Consultants

The funding of terrorism involves providing funds from both legal (personal donations and profits from businesses and charitable organizations ) and or illegal sources (the drug trade, the smuggling of weapons and other goods, fraud, kidnapping and extortion), directly or indirectly or knowing that the monies are to be used to finance terrorism activity or organizations according to FINTRAC.

It follows that Countering the Financing of Terrorism refers to all the efforts to counter this.

Please Whatsapp 868 373-1166 for all your Anti-Money Laundering Compliance needs.

Website: http://asydneygroup.com

The author is the first Online Lawyer  based in Trinidad and Tobago. She specialises in Anti-Money Laundering Compliance.

She is a Certified Professional in the following areas:

Anti-Money Laundering and Financial Crimes;

Taxation;

Corporate Training;

Fraud Risk Management;

Graphic Design.

#businessregistration #antoinettesydney #sydneygroup #asydneygroup #trinidad #company #companies #lawyer #caribbean #aml #fiu #cft #frm #fraudrisk #graphicdesign #tax #taxation #taxes #nis #vat #bir #fiu #compliance #complianceofficer #realestate #casinos #cardealer

What does CO mean? : AML Compliance Consultants

Have you been selected for the position of CO in the company? I assure you that it is not a ceremonial position.

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CO is an acronym for “Compliance Officer”. This is someone with a background in law, finance, management, insurance, accounting who will ensure that your company follows all the laws and regulations with respect to anti-money laundering.

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The author is the first Online Lawyer  based in Trinidad and Tobago. She specialises in Anti-Money Laundering Compliance.

She is a Certified Professional in the following areas:

Anti-Money Laundering and Financial Crimes;

Taxation;

Corporate Training;

Fraud Risk Management;

Graphic Design.

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What does SAR mean?: AML Expert

SAR is an acronym for Suspicious Activity Report.

It is a report that captures details of  an alleged criminal offence committed by a client or customer of a “listed business “.

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In Trinidad and Tobago the following are “listed businesses” and  have a legal obligation to file a SAR with the Financial Intelligence Unit (FIU).

Motor Vehicles Sales;

Real Estate Agents and Companies;

Gaming Houses (Casinos)

Pool Betting;

Jewellrs;

Art Dealers;

Accountants;

Lawyers;

Independent Legal Prpfessionals;

Trust and Company Service Providers

The author is the first Online Lawyer  based in Trinidad and Tobago. She specialises in Anti-Money Laundering Compliance.

She is a Certified Professional in the following areas:

Anti-Money Laundering and Financial Crimes;

Taxation;

Corporate Training;

Fraud Risk Management;

Graphic Design.

#businessregistration #antoinettesydney #sydneygroup #asydneygroup #trinidad #company #companies #lawyer #caribbean #aml #fiu #cft #frm #fraudrisk #graphicdesign #tax #taxation #taxes #nis #vat #bir #fiu #compliance #complianceofficer #realestate #casinos #cardealer

SOF Defined!! AML Compliance Consultants

SOF is an acronym for Source of Funds. Source of funds refers to the origin of the particular funds or other assets which are the subject of the business relationship between the client and the financial institution or listed business. (e.g., the amounts being invested, deposited, or wired as part of the business relationship).

The author is the first Online Lawyer  based in Trinidad and Tobago. She specialises in Anti-Money Laundering Compliance.

Website: http://asydneygroup.com

She is a Certified Professional in the following areas:

Anti-Money Laundering and Financial Crimes;

Taxation;

Corporate Training;

Fraud Risk Management;

Graphic Design.

#businessregistration #antoinettesydney #sydneygroup #asydneygroup #trinidad #company #companies #lawyer #caribbean #aml #fiu #cft #frm #fraudrisk #graphicdesign #tax #taxation #taxes #nis #vat #bir #fiu #compliance #complianceofficer #realestate #casinos #cardealer

NPO Defined !! AML Compliance Consultants

NPO is an acronym for “Non-Profit Organisation”. This is an institution that is designed to pursue a certain purpose. The focus is not on making a profit as distinct from a limited liability company.

In Trinidad and Tobago, there is no comprehensive law governing NPOs and they are often abused and used to finance terrorism.

For all your AML/FIU Compliance Needs Whatsapp 868 373-1166

Website: http://asydneygroup.com

The author is the first Online Lawyer  based in Trinidad and Tobago. She specialises in Anti-Money Laundering Compliance.

She is a Certified Professional in the following areas:

Anti-Money Laundering and Financial Crimes;

Taxation;

Corporate Training;

Fraud Risk Management;

Graphic Design.

#businessregistration #antoinettesydney #sydneygroup #asydneygroup #trinidad #company #companies #lawyer #caribbean #aml #fiu #cft #frm #fraudrisk #graphicdesign #tax #taxation #taxes #nis #vat #bir #fiu #compliance #complianceofficer #realestate #casinos #cardealers

Gift Guidance Not Career Guidance

Young people do not do a degree without a plan!! You will end up unemployed and mentally distressed. A degree requires at least 3 years of study and sacrifice. Imagine being unable to find a job after that. Student debt is a reality.

My humble advice is to find your gift. Your gift is what you do with the least effort and it ignites your passion. Your calling or what the Universe has bestowed upon you. Your education should refine your gift. It is important that you try different things. Take that summer job in the supermarket. It will teach you communication skills.

Say yes to unpaid internships, explore the world of business. Find out what you like. Find yourself. Create a plan to take a course of a degree that will teach sharpen your skills.

There are many free courses in Trinidad, YouTube is a free online learning platform if used wisely. There are short courses that you can complete and you will earn more than your counterparts who did a degree in a field that they have no interest in.

The author is the first Online Lawyer  based in Trinidad and Tobago. She specializes in FIU/AML Compliance.

Services include:

AML/FIU Training;

AML Audits;

Compliance Officer Outsourcing;

Drafting of Compliance Program

She is a Certified Professional in the following areas:

Taxation;

Corporate Training;

Anti-Money Laundering and Financial Crimes;

Fraud Risk Management; Graphic Design

Time to Change: Your Season is here!!!!

I have been blessed by 10 butterflies this week. Butterflies are in abundance, have you noticed? Fluttering with the wind they dance with nature. The Universe is talking to you.

I approached my home and saw my neighbor who always calls me “young lady”. He had long hair but about a year ago he cut it. I usually comment on his hair growth and he smiles as he sips his coffee. Today , I asked him if he noticed a lot of butterflies lately. He advised me that the butterflies are a sign that the seasons of your life are changing.

If you know me personally, I am easily fascinated by learning new information. My mind was blown. I walked home confident that my season is here.

Young man, young woman, your time is now. Make no excuses. This is your life. Your season has arrived, your life will change in a positive way. In all things, give thanks.

The author is the first Online Lawyer  based in Trinidad and Tobago. She specialises in FIU/AML Compliance.

Services range from AML Training, AML Audits, Drafting AML Compliance Programs, Consulting.

She is a Certified Professional in the following areas:

Taxation;

Corporate Training;

Anti-Money Laundering and Financial Crimes;

Fraud Risk Management; Graphic Design

Check out my Youtube Channel

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