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TCI AML/CFT National Risk Assessment

The Turks and Caicos released its first Money Laundering and Terrorist Financing National Risk Assessment in October 2017 in line with the Financial Action Task Force (FATF) recommendations against which each country assesses its own money laundering and terrorist financing risks.

The TCI National Risk Assessment aimed at creating a comprehensive and evidence-based understanding of the money laundering and terrorist financing risks faced by the jurisdiction, and is a tool used by private and public sector stakeholders to implement effective measures to combat those risks.

The Cabinet approved the National Risk Assessment Report in August 2017. 

Announcing the release of the National Risk Assessment, chair of the national Anti-Money Laundering Committee, the Attorney General Hon. Rhondalee Braithwaite Knowles OBE said: “This is a major initiative here in the Turks and Caicos Islands which will enable us to develop an effective framework to prevent money laundering and combat terrorist financing.”