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AML/CFT

AML/CFT 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).

The TCI is a member of the Caribbean Financial Action Task Force (CFATF) which is itself an Associate Member of the Financial Action Task Force (FATF). The CFATF is a FATF styled regional body (FSRB) with similar form and function to the FATF.

As a member of the CFATF the TCI is subject to the CFATF’s ongoing programme of mutual evaluation of its members for the assessment of member country’s AML/CFT framework. The TCI also participates in bi-annual plenary meetings for technical representatives and annual ministerial meetings where AML/CFT policies and decisions are made at a regional level.

See CFATF Mutual Evaluation Report and Follow-up Reports for the TCI here.