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 the lack of regulations addressing conflicts of interest in government procurement. Additionally, while some private companies implement internal controls to prevent bribery, the overall transparency of procurement processes remains a significant barrier for foreign direct investment.

Trinidad and Tobago's economy is characterized by a strong reliance on its oil and gas sector, which has historically attracted significant foreign direct investment (FDI). Despite recent modest increases in net investment inflows, challenges such as regulatory uncertainty, high crime rates, and fiscal vulnerabilities persist, necessitating ongoing government efforts to improve the investment climate and diversify the economy.

Trinidad and Tobago has a mixed investment climate, heavily influenced by its natural resources, particularly in the energy sector, which has historically attracted significant foreign direct investment (FDI). While the government is actively seeking to improve the enabling environment for FDI through legislative reforms and infrastructure improvements, challenges such as regulatory uncertainty, high crime rates, and fiscal vulnerabilities persist, impacting investor confidence. Despite these hurdles, there are emerging opportunities in renewable energy and other sectors, but sustained progress will require addressing structural issues and enhancing regulatory clarity.