Tuesday 23 July, 2019

T&T, El Salvador's Finance Intelligence Units sign MoU

Photo: (L-R): Mr. Nigel Stoddard, Deputy Director, Financial Intelligence Unit, Trinidad and Tobago; Susan François, Director, Financial Intelligence Unit, Trinidad and Tobago; Eugenia Maricela Campos de Velasquez, Head, Financial Intelligence Unit, El Salvador and Attorney General Faris Al-Rawi.

Photo: (L-R): Mr. Nigel Stoddard, Deputy Director, Financial Intelligence Unit, Trinidad and Tobago; Susan François, Director, Financial Intelligence Unit, Trinidad and Tobago; Eugenia Maricela Campos de Velasquez, Head, Financial Intelligence Unit, El Salvador and Attorney General Faris Al-Rawi.

A Memorandum of Understanding (MoU) has been signed between Trinidad and Tobago and El Salvador's Finance Intelligence Units (FIU) to facilitate the timely exchange of information and intelligence related to money laundering and/or terrorism financing.

In a statement issued Tuesday, the Ministry of the Attorney General and Legal Affairs said under the MOU, each FIU can offer, spontaneously or upon request of the other FIU, any information and intelligence at its disposal that may be relevant to such an investigation to the extent permitted by the laws of each country and in accordance with its policies and procedures.

The Ministry said this information will only be shared for intelligence purposes.

"Information so shared can only be used for intelligence purposes. Information sharing amongst CFATF members is critical in the combatting money laundering, associated predicate offences and financing of terrorism which being transnational in nature can have an actual or potential impact across our national borders. Consequently, the CFATF Secretariat and the Heads of FIUs Forum encourage its members to enter into MOUs to facilitate the sharing of information and furthermore to comply with the FATF Standards," the Ministry said. 

The Directors of the Financial Intelligence Units (FIU) of El Salvador and Trinidad and Tobago executed a Memorandum of Understanding (MOU) on November 20, 2018 at the Caribbean Financial Action Task Fork (CFATF) XLVIII Plenary held during November 19-23, 2018 in Bridgetown, Barbados.

The purpose of the MOU is to establish a framework to facilitate the timely exchange of information and intelligence that is reasonably considered relevant to the investigation of a money laundering or financing of terrorism case.

 

Get the latest local and international news straight to your mobile phone for free:

Download the Loop News Caribbean app on Google Play Store: http://bit.ly/GetALoop

Download the Loop News Caribbean app on the App Store:  http://bit.ly/GetiLoop  

Get the latest local and international news straight to your mobile phone for free: