A Guide to Money Laundering Law and RegulationRavi Rajcoomar, one of the Caribbean’s leading attorneys, was born in Trinidad, WI, and spent his early years in the United Kingdom. An academic scholar, he studied law at the UWI, Cavehill and Hugh Wooding Law School before starting his prodigious practice in criminal and civil law from1987 in Trinidad and Tobago, working in some of the country’s most prestigious law firms, alongside legal luminaries such as Karl Hudson Phillips, QC and the late Desmond Allum, QC. A married father of four, he’s currently attached to Trinity Chambers in Port of Spain. Known for his unique legal acumen, he has litigated in some of the region’s most prominent and groundbreaking criminal and civil cases, many of which set legal precedent in the Caribbean and Commonwealth region in the past 25 years. As a founding member and executive officer of the Criminal Bar Association of T&T, he pioneered several domestic legal initiatives, including reform in the Magisterial Courts, legislation for DNA, paper committals and copyright infringement, use of witnesses statements in trials, visual recordings of police interviews, the Financial Investigation Unit and compliance and competition economics in the Caricom region. As a former senior member of the Council of the Law Association of Trinidad and Tobago, he spearheaded major national legal initiatives aimed at protecting the public’s interest, including the review of prisoners’ rights and Constitutional Reform. Rajcoomar has also authored publications in Lawyer on Abuse of Process in Criminal Law and DNA and the Criminal Law, as well as ‘A guide for Money Laundering Law & Regulation in Trinidad and Tobago.’ He’s also lectured at the Hugh Wooding Law School since 2005, and currently serves as a Commissioner of the Trinidad and Tobago Securities Exchange Commission. |
Contents
Accountants and Auditors | |
The Central Bank of Trinidad and Tobago and the Trinidad and Tobago Securities Exchange Commission | |
Compliance Officers | |
Draft Manual | |
PROCEEDS OF CRIME | |
Laws of Trinidad And Tobago 2006 | |
Confiscation of the Proceeds of a Specified Offence | |
Money Laundering | |
Chapter 7Chapter 8 The Legal Profession Chapter 9 The Regulators Chapter 10 Financial Institutions | |
Banks | |
Insurance Companies | |
Miscellaneous | |
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Common terms and phrases
Act is amended AML-CFT amount anti-money laundering assets beneficial owner business relationship cash charging order client compliance officer compliance programme confiscation order conviction corporate correspondent bank criminal purpose customer due diligence customer’s defendant’s deleting the words determine Director of Public disclose disclosure documents drug trafficking offence employees ensure entities evidence financial institution Financial Investigation Unit forfeiture funds guidelines High Court identification imprisonment institution or listed insurance company internal auditor jurisdiction legal person legal professional privilege legislation listed business market actor means money laundering obtained one-off transaction order under subsection paragraph payment police officer politically exposed person proceedings Proceeds of Crime Public Prosecutions realisable property reasonable grounds records referred regulations relation respondent bank risk Securities Exchange Commission solicitor specified offence substituting the words Supervisory Authority suspicion suspicious activity suspicious activity report suspicious transactions terrorist financing third party Trinidad and Tobago wire transfer