Trinidad and Tobago has completed its 2nd and 3rd National Money Laundering and Terrorist Financing Risk Assessments (NRAs), consistent with Financial Action Task Force (FATF) Recommendation 1, which requires countries to identify, assess and understand their money laundering and terrorist financing (ML/TF) risks and to apply mitigating measures.

The 2nd NRA covered the period 2016 to 2020, while the 3rd NRA assessed risks for the period 2021 to 2024. Both exercises were conducted using the National Money Laundering and Terrorist Financing Risk Assessment Tool developed and provided by the World Bank. The assessments were coordinated by the National Anti-Money Laundering and Counter Financing of Terrorism Committee (NAMLC), chaired by the Office of the Attorney General and involved extensive participation from key public and private sector stakeholders, supported by a wide range of qualitative and quantitative data.

The NRAs ensure that stakeholders maintain a contemporary and comprehensive understanding of ML/TF risks and provide a critical foundation for the application of a risk-based approach to Trinidad and Tobago’s AML/CFT framework. They are therefore key resources for Competent Authorities (CAs), Financial Institutions (FIs), Listed Businesses (LBs) and other stakeholders in the development and implementation of policies, procedures and mitigation measures. FIs and LBs are required to review the NRAs and update their institutional ML/TF risk assessments accordingly. Members of the wider public are also encouraged to access and utilize the NRA reports, as appropriate.

In keeping with its commitment to maintaining an up-to-date understanding of risk, Trinidad and Tobago continues to undertake periodic updates and complementary sectoral, thematic and standalone risk assessments to address emerging and evolving ML/TF and related financial crime risks.

Trinidad and Tobago's 3rd National Risk Assessment
Trinidad-and-Tobago-Public-National-Risk-Assessment