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AML/CTF

TCI AML/CFT National Risk Assessment

The Turks and Caicos Islands released its first Money Laundering and Terrorist Financing National Risk Assessment (NRA) in October 2017.

The objective of the TCI National Risk Assessment was to create a comprehensive and evidence-based understanding of the money laundering and terrorist financing risks faced by the jurisdiction.  This information was to be 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. The risk rating for each sector is provided below. 

Sector

Risk Rating

Banking

Medium High

Corporate Service Providers

Medium High

Independent Legal Professionals

Medium High

Trust Company

Medium High

Investments

Medium 

Real Estate

Medium 

Money Services Business

Medium

Accountants

Medium

High Value Dealers

Medium

International Insurance

Medium Low

Domestic Insurance

Low

The NRA and the National AML/CFT Strategy 2018 – 2019 can be accessed via the links below: