Must all employees of Listed Businesses complete FIU Training?

Yes from director to door man. Rest easy, I have uploaded 100% free AML Training Sessions on Youtube.

Please subscribe for the other 20+ videos for the AML Training Sessions.

The author is an attorney at law based in Trinidad and Tobago. She specializes in Anti Money Laundering and Financial Crimes.

Website : http://asydneygroup.com

Call or whats app 868 373-1166

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A dog is still a dog, do not try to change your partner

The things that we accept, will be the things that we regret in our partners.My neighbour’s pet dog usually comes in my yard,he chases chickens,birds,vehicles and barks at pedestrians. He only does these things away from his residence.When he is home,he sleeps inside the house,he eats dog food,and he appears well trained. As soon as he afforded the opportunity to leave his yard,he reveals his true nature. My father observed the dog eating chicken bones that we discarded and he remarked that the dog sleeps on his own couch at home,yet he is in our yard,consuming bones. I replied, “a Dog is still a dog”. It does not matter if we take the dog to the vet, or we buy brand name accessories for the dog, he is still a dog.

I considered the lives of many people who feel that they can change their romantic partner. Silly isn’t it? Maya Angelou said that when people show you who they are,believe them. Do not waste your time and energy trying to fix the perceived  flaws and imperfections on another. Invest that time in yourself. Accept people for who they show you they are. 

Are you blind to the true nature of your partner?

Open your eyes ! 

The author is an attorney at law based in Trinidad.She specialises in Anti Money Laundering and Countering the Financing of Terrorism. Website : http://asydneygroup.com
What’s app 868 373-1166

There are no dead end jobs,just dead end people:It is an adventure to be alive

Today is a present. Are you alive or just living ? Bills ,bills ,bills. I wish the person who invented bills will choke on his saliva. Bills are a huge inconvenience to me. But working towards generating funds to pay these bills is fun. In the absence of he responsibility to pay bills,some people may never enter into the workforce. Nevertheless,it is a blessing to be on your way to work. Some people are not economically active. Look at it as a quest. You are on a journey to make money. Do not look at it as going to your dead end job. A wise man told me that there are “…No dead end jobs,just dead end people “. Do not resent your employer,after all  the company is paying your bills,sending your kids to school. For the entrepreneurs out there,think of your job as your investor. I encourage you to view your day as an adventure,just like something I heard in the movie Peter Pan ,the version with Robin Williams.

The author is an attorney at law in Trinidad. She specialises in Anti Money Laundering and Countering the Financing of Terrorism. See the website http://asydneygroup.com

What’s app 1 868 373-1166

Instagram :@asydneygrouptt

Not everyone can run a Bar : Special skills are required for certain types of businesses

How much of human life is lost in waiting? Do not wait until the timing is perfect. Proceed with your plans . Time waits on no one . Plan and execute. You have to state your intentions to the world and put it out in the universe. It will come back to you. The elements will line themselves up. Everything will fall into place. Start today,baby steps .Do not wait until the time is right. Do not wait for conditions to be favourable,just proceed and they will follow your lead. You have to guide the way ,you will become weary in waiting . Plan ,execute and repeat . Write your plans down for your records and tell your friends about it to remain accountable . Press on.

Knock, Knock, knocking on Opportunity’s door…the importance of actively pursuing your dreams

The race is not for the swift but for those who can endure. You cannot catch fish, if you do not lower the rod in the water. You can stay in the boat as long as you want, the fish will not jump into your plate. Now is the time to get up, get out and get something done in your life. Stop blaming others for the outcome of your decisions, this is your life. I am the proud guardian of 3 kittens. I have one special kitten, he has developed a system of getting my attention. The kitten has a great sense of time, he knows my bed time, he knows my departure time for work and he knows when I will return. If I leave the house and he did not anticipate that ,he sits on a pile of bricks to get a better vantage point to see my safe return. He sits outside my door on a blue mat that I bought for him. If he does not see me, he sits outside the window , where he can hear the sound of a television or music. He climbs on the rooftop to get my attention and purrs. He is always ready for the sound of the cracking of the door, when I am about to feed him. He always eats first because he is always ready for the opportunity to get my attention first. His brother and sister always eat his leftovers.

This kitten is brilliant. Instead of knocking on the door, he sleeps outside my door. He knows that I have to leave the house at some point. He makes himself comfortable on my step and he waits. How many times in life do we knock on a closed door? When we get no response, we walk away in frustration. This kitten has developed a clever system of getting what he wants. We must do the same, if we want a promotion at our job, we must actively learn what is required for the new position. Go and learn new courses, take up a new language, volunteer on the weekends to gain experience. Do not complain and take no action. If you want a boyfriend or girlfriend, become your own friend first. Discover yourself, question why you drink excessive alcohol, find out your triggers. Improve yourself, when the time is right and a partner approaches you, he or she will complement your life,not complete it.  Patience is required to wait for the opportunity to arrive, but while you wait ,you will be busy. Brother Buju Banton said that “opportunity is a scarce commodity” so you have to be prepared when it comes. The universe rewards effort. All the time and sweat that you spend perfecting your craft will return onto you seven fold. As you grow and mature, you will network and someone may open that door that you have been knocking on and invite you inside. You may be asked to provide the password to enter, this password may be a certain skill, or a different language or a certificate that you never bothered to pursue.

This is your life, so make  your bed outside the door that opens the way to the opportunity that you seek and improve yourself , while waiting for the door to open. If you become weary, sit by the window, climb on the rooftop, get the attention of the person who has to open the door for you.

Success does not change you, fame does..a tribute to Amy Winehouse, Whitney Houston and Selena Quintanilla-Perez

Dear Amy Winehouse , happy birthday. Return If Possible (Whitney Houston and Selena Quintanilla-Perez). May these musical legends rest cozy in Mother Nature. I adore all of these performers. They opened themselves up to us and shared their emotions with the world.

Whitney Houston

I stumbled upon another documentary with Whitney Houston and she stated that it became increasingly difficult for her to go outdoors as her popularity increased. She indicated that she was bombarded by fans requesting autographs and or photos. She lamented that success did not change her but her growing fame restricted her ability to go out. In my respectful view, although she appeared cheerful in some of the footage (recorded while on tour) there seemed to be in sweet pain. In order to effectively perform her classics , she had to identify with heartache and loneliness, possibly experience it. It was revealed that she had low self esteem and this was reinforced in her tumultuous marriage. She spent days away from her infant daughter while on tour , she practiced with her band non stop and she was now a public figure. She found comfort in her vice, she started consuming then she was consumed. Fame is a hell of a drug.

Amy Winehouse

Today is her birthday and I know she is smiling. In the darkness, she knew herself.She sang with soul and her beauty was raw. Her album “Back to Black” was the soundtrack of my life in 2008. Her performances were entertaining and she poured herself into her music. She loved love, but love hated her. She was peacefully bitter and the lyrics of her song reflected her tortured love life. Yet she continued singing, she indulged in love with her  lover but that love turned into something painful to witness. Her success was accompanied by  haunting fame that elevated her to a public figure. Her love use became the subject of articles and she was stalked by paparazzi. It was not the success that changed her, because she always suffered from an eating disorder, it was the love that fame brought. Love is a hell of a drug.

Selena Quintanilla-Perez

My dear Selena, there is none like unto thee. Your strong sense of fashion, your strong command of your vocal cords, and the way you moved your body makes this generation miss you. You lived , you loved and you infected everyone around you. You trusted those around you and your fame attracted psycopaths. These forces were responsible for your tragic  demise because you trusted people . Trust is a hell of a drug.

Rest cozy ladies.

About the Author:

A.Sydney is an attorney at law in Trinidad and Tobago. She specializes in AML/CFT/FIU/Tax Compliance, and provides Corporate Secretarial Services to local and international giants in various industries. Feel free to explore the website for her portfolio of companies and add her on social media:

Website:http://asydneygroup.com

WhatsApp only 868 373-1166

You get stronger when your destiny is almost fulfilled

Do you recall being asked whether you are a Politically Exposed Person (PEP) on an application form to open a new deposit account with your financial institution? Welcome to the club! I erroneously interpreted this question as the bank’s attempt to determine my political alignment. Knowledge has since found me and enlightened me. I have been forgiven of my blissful ignorance and I am not afraid to tell you about the good news of the banks’ rationale in seeking to determine whether a potential customer is a PEP.

What are PEPs?

Politically Exposed Persons (PEPs) are those individuals presently or formerly holding a powerful local or foreign public position, and family members and close associates of that individual.[1]

PEPS are classified according to the potential risks involved[2].

High Risk – Level 1 PEPs

Heads of state and government;

Members of government (national and regional);

Members of Parliaments (national and regional);

Heads of military, judiciary, law enforcement and board of central banks;

Top ranking officials of political parties.

Medium-High Risk – Level 2 PEPs

Senior officials of the military, judiciary, and law enforcement agencies;

Senior officials of other state agencies and bodies and high ranking civil servants;

Senior members of religious groups;

Ambassadors, consuls, high commissioners.

Medium Risk – Level 3 PEPs

Senior management and board of directors of state-owned businesses and organisations – e.g. Chairman of a Bank

Low Risk – Level 4 PEPs

Mayors and members of local county, city and district assemblies

Senior officials and functionaries of international or supranational organisations

Why are PEPs high risk clients to a Financial Institution?

PEPs are potential targets for bribes due to their prominent position in public life. They have a higher risk of corruption due to their access to state accounts and funds[3]. The FIU has warned that it is not to be assumed that all PEPs are involved in criminal activity. Not all PEPs have acquired wealth through illicit means; many entered public life with a substantial net worth. Not all PEPs are corrupt, but they are vulnerable to bribery and corruption at hands of well dressed criminal elements desirous of furthering their nefarious  activities. PEPs are in envious positions to award lucrative contracts and many criminals long for such friends in high places. PEPs pose a substantial risk to the financial institutions and FATF[4] issued guidelines on dealing with same.

PEPs and Money Laundering

Corrupt PEPs may abuse their power and exploit the regulatory difference between jurisdictions to facilitate the laundering of corruption proceeds and/or illegally diverted government, supranational or aid funds[5].

How do Financial Institutions combat money laundering risks posed by PEPs?

Financial Institutions ought to regularly monitor PEPs.

Guidance on dealing with PEPs[6]

Recommended actions institutions should take:

Identify the PEP from within the customer base;

Identify the country associated with the PEP;

Identify the type of business, industry, personal financial situation of the PEP (this is basic Know Your Customer information);

Identify the PEP’s affiliations, employment, associations, etc. Develop a profile of the PEPs transactions;

Determine if the transactions are as expected by comparing the actual transactions to what is known about the PEP;

Identify and investigate transactions that are outside the norm, or which are high-risk.

General Guidelines on dealing with Foreign PEPs[7]

With respect to foreign PEPs ,the financial institution must perform Enhanced Due Diligence (EDD) on same and  monitor the activities of the foreign PEP  to understand the following:

Source of Funds;

Source of Wealth;

Transactions;

Differences in sums actual deposited compared to expected sums.

In closing, I hope that you in turn spread the wonderful news about the banks’ reasoning behind asking whether a customer is a PEP . That’s all for PEP Talk people.

The author is an attorney at law based in Trinidad. She has specialized in Anti Money Laundering and Fraud Risk Management. Please call 868 373-1166 for a Consultation. Website http://asydneygroup.com

Sources:

[1]https://www.lexisnexis.com/legalnewsroom/taxlaw/b/federaltaxation/archive/2014/05/21/politically-exposed-persons-peps.aspx#sthash.agZvV1eB.dpuf

[2] https://complyadvantage.com/fatf-definition-of-pep/

[3] http://www.aic.gov.au/publications/current%20series/tandi/381-400/tandi386.html

[4] http://www.fatf-gafi.org/media/fatf/documents/recommendations/Guidance-PEP-Rec12-22.pdfhas

[5] http://www.aic.gov.au/publications/current%20series/tandi/381-400/tandi386.html

[6]http://www.bankinfosecurity.com/politically-exposed-persons-tips-for-how-financial-institutions-should-handle-a-873

[7]http://www.bankinfosecurity.com/politically-exposed-persons-tips-for-how-financial-institutions-should-handle-a-873