Top 10 ways to Launder Dirty Money using a Car Dealership : Free Anti Money Laundering Training in Trinidad!!

Everything is not as it appears!

I am observing numerous new and used car dealership sponsoring ads on Facebook and Instagram! Cars are selling like hot hops! I am certain that car dealers are accepting substantial cash payments and are failing to obtain the necessary Know Your Customer (KYC) information from customers!

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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. Her entire Law Practice is based Online using technology. Client meetings are conducted at mutually convenient meeting points. 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.

Check out my Online Companies: www.asydneygroup.com

Call/Whatsapp for a quotation 868 373-1166

Blog: https://sydneygroupblog.wordpress.com/

Linked In: https://tt.linkedin.com/in/antoinette-sydney-77093550

Instagram: @asydneygrouptt

Facebook: https://www.facebook.com/sydneygrouptt/

Youtube: https://www.youtube.com/channel/UC8-sUa8WMDJM8w5_Q3nhQ5w

I am a Certified Professional in the following areas:

Taxation;

Corporate Training;

Anti-Money Laundering and Financial Crimes;

Fraud Risk Management;

Graphic Design.

Services include:

Anti-Money Laundering (AML) Training for staff, directors;

Anti-Money Laundering Audits;

Compliance Program drafting;

Consulting services and much more.

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How to create a Compliance Program ?

A Compliance Program (CP) is a manual that contains the internal policies and procedures of a listed business. The Know Your Customer (KYC) forms are attached as appendices to the compliance program.

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What are the key elements of a Compliance Program?

The staring point is that there must be a risk based approach in the Anti-Money Laundering (AML) Compliance Program.

The four (4) pillars of an effective Anti-Money Laundering (AML) Compliance Program are:

  1. The development of internal policies, procedures, and related controls;
  2. The designation of a competent and qualified Compliance Officer;
  3. Ongoing AML training for all staff, directors of the listed business;
  4. Independent review of the Compliance Framework by a competent and qualified AML auditor.

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. Her entire Law Practice is based Online using technology. Client meetings are conducted at mutually convenient meeting points. 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.

Check out my Online Companies: www.asydneygroup.com

Call/Whatsapp for a quotation 868 373-1166

Blog: https://sydneygroupblog.wordpress.com/

Linked In: https://tt.linkedin.com/in/antoinette-sydney-77093550

Instagram: @asydneygrouptt

Facebook: https://www.facebook.com/sydneygrouptt/

Youtube: https://www.youtube.com/channel/UC8-sUa8WMDJM8w5_Q3nhQ5w

I am a Certified Professional in the following areas:

Taxation;

Corporate Training;

Anti-Money Laundering and Financial Crimes;

Fraud Risk Management;

Graphic Design.

Services include:

Anti-Money Laundering (AML) Training for staff, directors;

Anti-Money Laundering Audits;

Compliance Program drafting;

Consulting services and much more.

#complianceprogram #antoinettesydney #amlcomplianceconsultant #trinidadonlinelawyer #asydneygroup.com #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 is CFT? :Countering the Financing of Terrorism:AML Compliance Consultants

What is Terrorism?
Terrorism is the calculated, premeditated use of unlawful violence to cause panic or advance a political, religious, ideological cause.

Financing of Terrorism
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.

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Terrorism is financed in order to:
Promote militant ideology;
Purchase food for recruits;
Purchase weapons;
Pay operatives;
Arrange for travel;
Train new recruits;
Forge documents;
Pay bribes;
Acquire land;
Stage attacks.

How to proceed when it is discovered that a potential or existing customer is a terrorist ?
As soon as a financial institution or listed business receives the list of designated entities or the consolidated list referred to in section 22AA(2)(c) or (e), the following procedures shall apply:
(a) the financial institution shall immediately inform the FIU on the prescribed form, if any person or entity named on either list has funds with the financial institution or listed business;
(b) if the financial institution or listed business has reasonable grounds to believe that a person or entity named on either list has funds in Trinidad and Tobago, it shall immediately inform the FIU on the prescribed form;
(c) (Deleted by Act No. 14 of 2012); and
(d) if a person or entity named on that list attempts to enter into a transaction or continue a business relationship, the financial institution or listed business shall submit a suspicious activity report to the FIU immediately and shall not enter into or continue a business transaction or business relationship with such person or entity.

The law requires that the transaction and by extension, the business relationship be brought to an end and a Suspicious Activity/Transaction Reported be submitted by the Compliance Officer to the FIU.

See
Anti Terrorism Act of Trinidad and Tobago,PART III FINANCING OF TERRORISM 22AB

The author is an attorney at law in Trinidad. She specialises in Anti Money Laundering and Financial Crimes. Website http://asydneygroup.com

#cft #aml #antimoneylaundering #complianceofficer #compliance #consultant #sydney #sydneygroup #money #financing #progress #progresschronicles #progressgoddess #masterhustler #caribbeanwriter #author #lawyer

What is the FIU?AML Compliance Consultants

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

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100% Free FIU Training available on my Youtube Channel.

What does the FIU do?

1.Acts as an autonomous independent body to serve as a national centre for the collection, analysis and dissemination of financial intelligence and information.

2.The FIU functions as a specialised intelligence agency for the receipt and analysis of STRs/SARs) and the dissemination of financial intelligence and information.

3.FIU acts as a Supervisor to monitor specified Supervised Entities and enforce compliance of AML/CFT (AML/CFT) obligations.

4.The FIU does not engage in investigative action, which is conducted by the Law Enforcement Authorities (LEAs).

The Author is an attorney at law based in Trinidad. She specializes in Anti Money Laundering and Financial Crimes. She is also an Internationally Certified Fraud and Risk Management Professional.

Website :http://asydneygroup.com

Contact 868 373-1166

#fiu #antoinettesydney #commerciallaw #riskconsultant #attorneyatlaw #expert #specialist #aml #cft

FACTS about FATCA in Trinidad and Tobago for Individuals and Companies: Must Read

“Uncle Sam wants to ensure that he collects his taxes wherever his nieces and nephews reside”. I overheard one of my bankers explaining this reasoning to another client  in response to a  query about the FATCA questionnaire. In accordance with one of our favorite superheroes in the Book of great Parables and Fables, we must render unto Caesar the taxes that are due unto him[1]. This explanation resonated with me and I want to present you herein with some facts about FATCA .

What is FATCA?

FATCA is an acronym for Foreign Account Tax Compliance Act and it was introduced by the United States Government in 2009 to ensure that U.S. persons with financial assets outside of the United States are paying U.S taxes.

What is the rationale behind introducing FATCA legislation?

The main objective is to obtain information on U.S. persons who may have financial assets outside of the U.S, or those U.S. persons who may be investing and earning income through financial institutions outside the United States.

Who is affected by FATCA?

U.S. citizens or U.S. registered businesses such as limited liability companies, trusts, partnerships, estates;

US individual residents, including US Green Cardholders;

US individuals who own certain foreign financial accounts or other offshore assets;

Local businesses/companies that have U.S. ownership;

FFIs- any non U.S. financial institution (an institution that accepts deposits, invests, trades securities).

What are financial Institutions required to do with respect to FATCA?

Undertake certain identification and due diligence procedures involving new customers desirous of opening new accounts;

Report annually to the Internal Revenue Service (IRS) information on customers who are U.S persons or foreign entities with substantial U.S. ownership;

Close accounts of certain customers who do not wish to cooperate with the new FATCA requirements including:

(a) Non-participating financial institutions or ;

(b) Customers who fail to provide sufficient information to determine whether or not they are a U.S. person.

Who is a U.S. person for the purposes of FATCA?

A citizen or resident of the United States, including a green card holder;

A partnership, corporation, estate, trust incorporated or created under US law (US incorporated entity);

A non U.S. incorporated entity having substantial ownership held by –an individual who was born in the US or is a US citizen/resident (including a green card holder) or has a US address or a US mailing address;

A U.S. incorporated entity.

How would I know if I am a U.S. Person under FATCA?

The following are captured in this definition:

U.S. resident or citizen including US Green Card holders;

U.S. Place of Birth;

U.S. home or mailing address;

Only address is a U.S. PO Box, C/O mail address

Power of attorney or signing authority having U.S. address

A U.S. telephone number;

Standing order to transfer funds to an account in the U.S.

What are the FATCA forms?

There are various FATCA forms that are to be completed by the Applicant:

U.S. Person Status Form (Individuals only);

Non US Person Declaration;

Non US Person /Letter of Explanation of US Address;

Waiver of Confidentiality/Data Protection for US Person.

The Internal Revenue Service forms are:-

Form W9;

Form W-BEN;

Form W-8BEN-E.

Different documents are required for   individuals and for companies. There are various classification for business and companies for the IRS forms.

[1] The King James Version: Mathew Chapter 22 Verse 21

About the Author:

A.Sydney is an attorney at law in Trinidad and Tobago. She specializes in AML/CFT Compliance, Taxation and provides Corporate Secretarial Services. Feel free to explore the website for her portfolio of companies: http://asydneygroup.com

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. Her entire Law Practice is based Online using technology. Client meetings are conducted at mutually convenient meeting points. 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.

Check out my Online Companies: www.asydneygroup.com

Call/Whatsapp for a quotation 868 373-1166

Blog: https://sydneygroupblog.wordpress.com/

Linked In: https://tt.linkedin.com/in/antoinette-sydney-77093550

Instagram: @asydneygrouptt

Facebook: https://www.facebook.com/sydneygrouptt/

Youtube: https://www.youtube.com/channel/UC8-sUa8WMDJM8w5_Q3nhQ5w

I am a Certified Professional in the following areas:

Taxation;

Corporate Training;

Anti-Money Laundering and Financial Crimes;

Fraud Risk Management;

Graphic Design.

Services include:

Anti-Money Laundering (AML) Training for staff, directors;

Anti-Money Laundering Audits;

Compliance Program drafting;

Consulting services and much more.

#amlcomplianceconsultant #trinidadonlinelawyer #asydneygroup.com #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