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 corruption among public officials, 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 their limited scope, as they do not cover family members of officials or political parties. Additionally, the lack of regulations addressing conflicts of interest in government procurement and the opaque nature of these processes deter foreign direct investment, as noted by U.S. firms.

Trinidad and Tobago has a mixed economy heavily influenced by its rich natural resources, particularly in the energy sector, which has historically attracted significant foreign direct investment (FDI). The country faces challenges such as regulatory uncertainty, high crime rates, and fiscal vulnerabilities, yet it continues to offer investment opportunities in various sectors, including renewable energy, telecommunications, and manufacturing. Government efforts to improve the investment climate and attract FDI are ongoing, but structural issues and geopolitical risks remain significant concerns.

Trinidad and Tobago has a mixed investment climate characterized by opportunities in the energy sector, which has historically attracted significant foreign direct investment (FDI), as well as emerging prospects in renewable energy. However, challenges such as regulatory uncertainty, fiscal vulnerabilities, and high crime rates persist, impacting investor confidence. The government is actively seeking to improve the investment environment through reforms and initiatives, but perceptions of bureaucratic hurdles and a lack of transparency remain significant concerns for both domestic and international investors.