Recommendation 8 of the Financial Action Task Force mandates that counties assess the adequacy of the laws and regulations with respect to Non-Profit Organizations (NPOs). NPOs are susceptible to being used to finance terrorism. In 2019, the Non-Profit Organizations Act No. 7 of 2019 (NPOA) was enacted and is in effect.
By virtue of this piece of legislation, NPOs now fall under the ambit of AML/CFT/PF regime in Trinidad and Tobago.
The Financial Intelligence Unit (FIU) is the supervisor of NPOs that earn more than $500,000 in gross annual income.
About the Author: Antoinette Sydney LLB LEC CAMLFC CFRMP is an author and entrepreneur based in Trinidad and Tobago.
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