FATF status

Trinidad and Tobago is no longer on the FATF List of Countries that have been identified as having strategic AML deficiencies

Compliance with FATF Recommendations

The latest follow-up Mutual Evaluation Report relating to the implementation of anti-money laundering and counter-terrorist financing standards in Trinidad and Tobago was undertaken in 2019. According to that Evaluation, Trinidad and Tobago was deemed Compliant for 26 and Largely Compliant for 9 of the FATF 40 Recommendations. It was also deemed Highly Effective for 0 and Substantially Effective for 0 with regard to the 11 areas of Effectiveness of its AML/CFT Regime.

The US State Department's Investment Climate Statement for 2024 highlights various legislative measures in Trinidad and Tobago aimed at combating public corruption, including the Integrity in Public Life Act and the Freedom of Information Act. However, the effectiveness of these laws is undermined by infrequent enforcement and a lack of coverage for officials' family members and political parties. Additionally, the opaque nature of government procurement processes poses challenges for foreign direct investment, as corruption remains a significant concern.

Trinidad and Tobago has a mixed economy heavily reliant on its established oil and gas industry, which attracts significant foreign direct investment (FDI). The country also seeks to diversify its economy by promoting investment in renewable energy, telecommunications, and manufacturing, although challenges such as regulatory uncertainty and high crime rates persist. Despite these issues, recent government initiatives aim to improve the investment climate and attract more foreign capital.

Trinidad and Tobago has a mixed investment climate, primarily driven by its rich natural resources in the energy sector, which continues to attract foreign direct investment (FDI). However, challenges such as regulatory uncertainty, high crime rates, and a lack of transparency hinder the investment environment. The government is actively seeking to improve conditions for FDI through reforms and incentives, but significant structural issues remain to be addressed.