Regulatory Alerts2025-01-01
AML/CFT Requirements for Electronic Money Issuers
The Central Bank of Trinidad and Tobago and the Financial Intelligence Unit of Trinidad and Tobago jointly supervise Electronic Money Issuers to enforce Anti-Money Laundering and Counter Financing of Terrorism standards. The document mandates that EMIs establish risk-based compliance programs, designate approved Compliance Officers, and conduct comprehensive ML/TF risk assessments covering cash functions and agent oversight. It further specifies rigorous customer due diligence protocols, including tiered identification requirements for individuals and businesses, alongside ongoing transaction monitoring and suspicious activity reporting obligations.
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