U.S. Embassy-donated computer equipment will soon allow the Financial Intelligence Unit (FIU) of Trinidad and Tobago to accept electronic reports on suspicious transactions from financial institutions and other entities under the FIU’s jurisdiction.
The donation was made through the Caribbean Basin Security Initiative, utilizing funding from the U.S. Department of State’s Bureau of International Narcotics and Law Enforcement Affairs.
“The United States is pleased to continue our support to the FIU as it strengthens its capacity to tackle money laundering and terrorist financing,” said Chargé d’Affaires John W. McIntyre at a handover ceremony to Deputy Permanent Secretary Ministry of Finance Savitree Seepersad at the FIU’s International Waterfront Complex office.
“Electronically-submitted reports of suspicious transactions will result in better and more timely information in support of investigations into the movement of illicit funds into, from, and through Trinidad and Tobago.”
FIU Director Susan Francois, in accepting the equipment, said: “the donated equipment together with the software that is being provided by the Government of Trinidad and Tobago significantly increases the IT capacity of the FIU to effectively carry out its data collection, analytical reporting, and management functions.
The software - FIUConnect - has been developed as a "one stop," fully integrated software application that meets the IT needs of the FIU of Trinidad and Tobago.
The data collection component provides secure electronic delivery of reports to the FIU from the financial institutions and businesses with AML/CFT obligations, such as the Suspicious Transactions Reports and Quarterly Terrorist Reports.
This dissemination capability ensures the FIU can in turn securely and quickly send intelligence reports to law enforcement, such as the TTPS, and feedback to the regulated entities.”