AG: $14.9b in suspicious transactions in 3 years

AG Faris Al Rawi 

Photo by Jeff Mayers
AG Faris Al Rawi Photo by Jeff Mayers

ATTORNEY General Faris Al-Rawi says the Financial Intelligence Unit (FIU) has found $14 billion in suspicious activity and transactions from 2015 to 2018 "in our little TT."

He was speaking while piloting the Companies Act in the Senate yesterday.

He said the FIU found $14,931,119.316 in suspected activity and transactions, involving 353 companies. He reported these activities included breach of exchange control, corruption, drug trafficking, fraud, money laundering and tax evasion and some of the transactions were completed, while others were stopped.

Of the 104,168 registered companies in TT, he said, 86,190 were active and 20 per cent inactive, and Government was looking to strike inactive companies off the register.

He said May 2019 was this country's final assessment for its obligations to the Financial Action Task Force and Global Forum and on April 25 there will be a face-to-face meeting. The Companies Act was one of the last three items required and the other two were non-profit organisations and civil forfeiture, on which bills will be brought this week.

"I am putting members on notice – we have some work to do."


"AG: $14.9b in suspicious transactions in 3 years"

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