The Proceeds of Crime Act, Chap 11:27 (POCA) was amended by the Miscellaneous Provisions (Proceeds of Crime, Anti-Terrorism and Financial Intelligence Unit of Trinidad and Tobago) Act, No. 20 0f 2018 to establish in law the National Anti-Money Laundering Counter Financing of Terrorism Committee (NAMLC). Pursuant to Section 57A(1) of POCA, NAMLC is responsible for

1. • making recommendations to the Minister (to whom responsibility for NAMLC has been assigned) in relation to the development of policy; and
   • coordinating the implementation, of national anti-money laundering, counter financing of terrorism and proliferation financing policies;
2. collecting and compiling statistics with respect to anti-money laundering, counter financing
   of terrorism and proliferation financing; and
3. coordinating the conduct of national risk assessments and mutual evaluations.

The NAMLC is the interagency coordination body responsible for the development of strategies and measures, as well as reviewing them on an ongoing basis for up-to-date measures and issuing policy recommendations. The NAMLC’s main functions are to:

1. Make recommendations for the formulation of a National Policy in respect of Anti-Money Laundering/Combatting the Financing of Terrorism/Countering Proliferation Financing (AML/CFT/CPF) and revisions to the National Policy as may be necessary in line with National Risk Assessment findings to the Minister to whom responsibility for NAMLC is assigned (“Minister”);
2. Act as the coordinating body for the conduct of the Caribbean Financial Action Task Force (CFATF) Mutual Evaluations and National Risk Assessments of Trinidad and Tobago;
3. Review the Anti-Money Laundering/Countering the Financing of Terrorism/Countering Proliferation Financing (AML/CFT/CPF) implications for member entities of NAMLC of policies and legislation in line with National Risk Assessment findings as required with a view to determining their adherence to the national AML/CFT/CPF framework;
4. Engage and consult with the AML/CFT/CPF stakeholder community on the design and/or updating of implementation action plans, priority steps and risk assessments;
5. Evaluate the progress and results of national AML/CFT/CPF activities and formulate proposals and recommendations for submission to the Honourable Attorney General and Minister of Legal Affairs of Trinidad and Tobago in his capacity as Prime Contact to the CFATF;
6. Contribute to the review of key Financial Action Task Force (FATF) and CFATF policies, procedures, recommendations and standards and participate in Plenary meetings of the CFATF and FATF, as required.

The NAMLC comprises members from:

1. the Ministry of Finance;
2. the Ministry of National Security;
3. the Office of the Attorney General and Ministry of Legal Affairs; (Anti-Terrorism Unit, Criminal Justice Unit, Central Authority Unit, Legislative Drafting Department, Registrar General Department)
4. the Director of Public Prosecutions;
5. the Financial Investigations Branch, Trinidad and Tobago Police Service;
6. the Financial Intelligence Unit of Trinidad and Tobago;
7. the Central Bank of Trinidad and Tobago;
8. the Chairman of the Board of Inland Revenue; and
9. the Trinidad and Tobago Securities and Exchange Commission;

The NAMLC conducts monthly meetings and is responsible for coordinating the implementation, of national AML, CFT and proliferation financing policies; for coordinating the conduct of national risk assessments and mutual evaluations.

Group Photo

NATIONAL ANTI-MONEY LAUNDERING & COUNTERING FINANCING OF TERRORISM COMMITTEE (NAMLC)

ATU - IOs

Eleven (11) Immediate Outcomes

Money laundering and terrorist financing risks are identified, assessed and understood, policies are co-operatively developed and, where appropriate, actions co-ordinated ...

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