THE 2017 Financial Intelligence Unit report tells that the volume of $22 billion in suspicious financial transactions that took place and succeeded and of which 111 was related to terrorism financing is an indication that Trinidad and Tobago is in the game of money laundering and dirty money said Agriculture Minister Clarence Rambharat.
“So if you don’t believe that we have the presence of people who would plant bombs, you better believe that somebody in our system is facilitating the movement of money intended for terrorist action,” he said.
In his contribution yesterday to the debate on the bill to amend five related acts to combat money laundering including the Mutual Assistance in Criminal Matters Act and the Proceeds of Crime Act in the Senate, Rambharat said, for the health of financial system, TT must consistently bring similar legislation like this if it wants to continue to be a player in the international financial system. There are consequences for not exchange of information on financial matters with international partners, he said.
“In this country we do not believe, we are not convinced as a country that terrorism affects us,” he said. Whether people believe or not, the reports have been showing, he said, “there is terrorism in the form of funds and guns out there” and the “FIU and other agencies have been saying to us that there is evidence in the financial system of terrorism money making its way through our country.”
Casinos springing up all over the place is a red flag in the world of money laundering and dirty money, he said.
“That’s a red flag bigger than we have at Macoya or down by the stadium. We are telling the world, we are open to dirty business.”