Overview

The Turks and Caicos Islands (TCI) has a responsibility to comply with international standards of regulation relating to the prevention and detection of money laundering and the combating of terrorist financing. The TCI committed to complying with its international obligations and has had a framework of Anti-Money Laundering (AML) legislation since 1988. This framework now includes the Combating the Financing of Terrorism (CFT).

Sanctions

The United Nations (UN) imposes general measures regarding terrorism and more specifically against named persons, groups, undertakings and entities. The enforcement measures are imposed to combat international terrorism and threats to international peace and security. These measures inter alia impose asset freezes and other prohibitions in respect of funds owned, held or controlled by certain named persons, groups, undertakings and entities. It is a criminal offence to breach these requirements.