Trinidad & Tobago Country Summary

FATF Status

Trinidad and Tobago is no longer on the FATF List of Countries that have been identified as having strategic AML deficiencies

Compliance with FATF Recommendations

The latest follow-up Mutual Evaluation Report relating to the implementation of anti-money laundering and counter-terrorist financing standards in Trinidad and Tobago was undertaken in 2019. According to that Evaluation, Trinidad and Tobago was deemed Compliant for 26 and Largely Compliant for 9 of the FATF 40 Recommendations. It was also deemed Highly Effective for 0 and Substantially Effective for 0 with regard to the 11 areas of Effectiveness of its AML/CFT Regime.

Trinidad and Tobago faces significant challenges related to crime and corruption, despite having established various legislative frameworks aimed at combating these issues. The enforcement of anti-corruption laws is infrequent, leading to a perception of high corruption levels, while the country grapples with serious criminal activities such as drug trafficking, human trafficking, and cyber crimes, compounded by the influence of organized crime groups and foreign criminal networks.

Trinidad and Tobago's economy presents a mixed investment climate, characterized by significant opportunities in sectors such as energy, hospitality, telecommunications, manufacturing, and maritime industries, driven largely by its abundant natural resources and strategic Caribbean location. However, challenges such as regulatory uncertainty, fiscal vulnerabilities, and geopolitical risks persist, impacting investor confidence and operational costs. The government has made strides to enhance the investment environment through initiatives aimed at streamlining processes and improving infrastructure, yet addressing structural issues like crime and foreign exchange shortages remains crucial for realizing the country's full investment potential.