Public Statements & Warnings

The FSC investigates all cases of possible unlicensed activity with a particular emphasis on the prevention of fraud.

This section aims to warn about individuals or organisations that may be offering unauthorised financial products or services. The FSC recommends that prior to entering into any financial or business arrangement with an individual or company holding out as being authorised by the FSC to operate in or from within the Turks and Caicos Islands, you should either check the authorisation listing on this website or contact us.

If you are aware of any individual or organisation purporting to be authorised by the Financial Services Commission when they are not, please contact us.

Public Statement No. 2 of 2015 (1st December, 2015)

The Financial Action Task Force (FATF) is an inter-governmental policy making body whose objectives is to set anti-money laundering and combating the financing of terrorism (AML/CFT) standards and to promote effective implementation of legal, regulatory and operational measures to combat AML/CFT and other threats to the integrity of the global financial system. The FATF produces two public documents which are issued three times a year. These public documents are the FATF Public Statement and the document, Improving Global AML/CFT Compliance: Ongoing Process.

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Public Statement No. 1 of 2015 (12th May, 2015)

The Financial Action Task Force (FATF) is the global standard setting body for anti-money laundering and combating the financing of terrorism (AML/CFT). The FATF produces two public documents which are issued three times a year. These public documents are the FATF’s Public Statement and the document, Improving Global AML/CFT Compliance: Ongoing Process. The most current statements were issued on February 27, 2015

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Public Statement No. 7 of 2014 (5th September, 2014)

Grand Turk, Turks and Caicos Islands, BWI 5th September 2014 – As an update to the public statement issued on August 28th, 2012 in relation to Grand Palm Ltd, The Turks and Caicos Islands Financial Services Commission (TCIFSC) considers it necessary to issue this public warning in order to protect the public interest, and the interests of any of the customers and creditors of Grand Palm Ltd, and further to make the general public aware that Grand Palm Ltd. is not a licensee of the TCIFSC.

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Public Statement No. 6 of 2014 (14th July, 2014)

The Financial Action Task Force (FATF) is the global standard setting body for anti-money laundering and combating the financing of terrorism (AML/CFT). The FATF produces two public documents which are issued three times a year. These public documents are the FATF’s Public Statement and the document, Improving Global AML/CFT Compliance: Ongoing Process.

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Public Statement No. 5 of 2014 (May 13, 2014)

The Turks and Caicos Islands Financial Services Commission ("The Commission") considers it necessary to issue this public statement in relation to Guyana.

On May 29, 2014, The Caribbean Financial Action Task Force (CFATF) issued a "CFATF Public Statement" as a successor to the CFATF Public Statement issued November 20, 2013. This Public Statement identifies Guyana as having significant strategic deficiencies in their AML/CFT regime and having failed to make significant progress in addressing the deficiencies. Guyana has not complied with their Action Plan developed with the CFATF to address these deficiencies. The CFATF considers Guyana to be a risk to the international financial system.

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Public Statement No. 3 of 2014 (May 12, 2014)

The Turks and Caicos Islands Financial Services Commission ("The Commission") considers it necessary to advise the public of further developments in relation the Ukraine. On April 28, 2014 the United Kingdom (UK) rectified and extended the Ukraine (Sanctions) (Overseas Territories) (No.2) Order 2014 to the Turks and Caicos Islands. On the same day the Ukraine (Sanctions) (Overseas Territories) (No.3) Order 2014 was also rectified and extended to the Turks and Caicos Islands. 

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Public Statement No. 2 of 2014 (18th March, 2014)

The Turks and Caicos Islands Financial Services Commission (“The Commission”) considers it necessary to issue this public statement following developments in Ukraine as it is desirable for the protection of the public and the reduction of crime and unlawful activities being conducted through the TCI Financial Services Industry.  

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