The Turks and Caicos Islands has released its updated National Anti-Money Laundering and Combating Terrorist Financing and Proliferation Financing Strategy 2021-2023 (“National Strategy 2021-2023“) setting out the main objectives which will be undertaken by the Government in collaboration with other stakeholders in order to improve the TCI’s AML/CFT/CPT regime and ensure that it continues to align with the Financial Action Task Force (FATF) recommendations.

The National Strategy 2021-2023 builds upon the National Strategy 2018 taking into account threats and risks identified in the 2017 National Risk Assessment, the deficiencies noted in the MER and the Anit-Money Laundering Committee's Strategic Plan 2020-2023. The National Strategy 2021-2023 sets out goals which embodies the actions necessary to achieve the Anti-Money Laundering Committee’s strategic priorities. The actions within each goal are assigned to specific agencies to develop and implement with a lead agency being identified in each case.  

The National AML/CFT Strategy is a two-year framework document for use by private and public sector stakeholders to implement effective measures to combat risks to the financial sector.

Announcing the release of the National Strategy 2021-2023, chair of the national Anti-Money Laundering Committee, Attorney General, Hon. Rhondalee Braithwaite Knowles OBE QC said: “The ultimate goal of the Anti-Money Laundering Committee in producing this updated National Strategy is to supplement the Anti-Money Laundering Committee's strategic plan and provide a guide to the stakeholders as they implement the actions required to advance the Turks and Caicos Islands as a secure and well-regulated international financial center which is effective in mitigating against money laundering, terrorist financing and proliferation financing. Through these goals and supporting actions the Anti-Money Laundering Committee will ensure that the measures, systems and processes to combat Money Laundering, Terrorist Financing and Proliferation Financing are robust and effective and that the legislative and regulatory infrastructure of the Turks and Caicos Islands’ financial services sector is fully implemented..”

For more information on the National Anti-Money Laundering and Combating Terrorist Financing and Proliferation Strategy 2021-2023, please contact the TCI Attorney General Chambers at: This email address is being protected from spambots. You need JavaScript enabled to view it.. The Strategy will be available on the websites of the Attorney General’s Chambers www.gov.tc/agc as well as that of the Financial Services Commission www.tcifsc.tc and the Financial Intelligence Agency www.fia.tc.

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Attorney General Hon. Rhondalee Braithwaite Knowles OBE, led a team of persons representing the Turks and Caicos Islands to the 47th Plenary and Working group meetings of the Caribbean Financial Action Task Force in Port of Spain, Trinidad and Tobago.  Delegates represented the Attorney General’s Chambers, the Office of the Director of Public Prosecutions, the Financial Services Commission, the Financial Intelligence Agency, the Financial Crimes Unit and the National Crime Intelligence Bureau (both branches of the Royal Turks and Caicos Islands Police Force).  The Hon. Attorney General holds the position of Immediate Past Chair of the regional compliance body on behalf of the Turks and Caicos Islands. The CFATF is chaired by the Hon. Basil Williams, Attorney General and Minister for Legal Affairs for Guyana.

The CFATF is the regional offshoot of the Paris based, Financial Action Task Force (FATF), the premier inter-governmental organization that sets the standards for preventing money laundering and terrorist financing.  The CFATF plays a critical role in promoting regional compliance with the international Financial Action Task Force (FATF) Recommendations on anti-money laundering and combatting the financing of terrorism and weapons proliferation. 

The CFATF comprises 25 countries from South and Central America and the Caribbean, with a total population of approximately 80 million persons. The CFATF is responsible for monitoring and evaluating member states in an effort to achieve compliance. 

Meetings around the Plenary include a meeting of Heads of FIUs, Working Groups and other CFATF Committees dealing with governance issues such as budget, planning and human resources.  Angela Brooks, Deputy Director of Public Prosecutions is co-chair of the CFATF’s Human Resources Committee along with Mrs. Kenisha Bacchus from the Financial Services Commission. Mrs. Bacchus was also an assessor for the mutual evaluation of Antigua and Barbuda and performed admirably in that role at the meetings.  Insp. Dwayne Baker, Director of the Financial Intelligence Agency is an assessor for the upcoming Evaluation of Bermuda.

Accompanying Hon. Braithwaite Knowles at the CFATF plenary were Khalila Astwood-Tatem, Desiree Downes and Shayone Handfield-Gardiner from the Attorney General’s Chambers, Edith Cox, Dwayne Baker and William Lightbourne from the Financial Intelligence Agency, Jillian Williams and Shatelia Hall from the Office of the Director of Public Prosecutions, Kenville Charles and Paulin Nemours from the Financial Crimes Unit of the RTCIPF, Vernon Williams from the National Crime Intelligence Bureau of the RTCIPF and Kenisha Bacchus and Tamiko Smith from the Financial Services Commission.

The effectiveness of the legislative and regulatory infrastructure of the Turks and Caicos Islands’ financial services sector is being evaluated by the CFATF and the CFATF will be conducting an onsite visit to the Turks and Caicos Islands to meet with public sector and private sector stakeholders in the financial sector during the second and third week in September 2018.

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The Turks and Caicos has released its first Money Laundering and Terrorist Financings National Risk Assessment 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 aims at creating a comprehensive and evidence-based understanding of the money laundering and terrorist financing risks faced by the jurisdiction.  The initial phase commenced in October 2014, with a workshop which identified the approach to gathering supporting data.

Around fifty stakeholders and representatives from both the public and private sectors will convened for a three-day workshop with a closed half day workshop for policy makers in June 2017.  That workshop facilitated the making of a comprehensive action plan to allow for a consistent approach to decrease the levels of risks, and strengthen controls and supervisory oversight in each sector. The Cabinet approved the National Risk Assessment Report in August 2017.  The National Risk Assessment is a tool used by private and public sector stakeholders to understand he national risks to the financial sector and implement effective measures to combat those risks.

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.”

The Hon. Attorney General also extended special thanks and acknowledgement is given to World Bank experts Ms Lisa Bostwick, Mr Roberto Biel, Mrs Emily Adeleke, Ms Francisca Fernando and Mrs. Kathleen Peters who have led the various workshop sessions.

For more information on the National Risk Assessment, please contact the TCI Attorney General Chambers at: This email address is being protected from spambots. You need JavaScript enabled to view it. or the Compliance Unit at the Turks and Caicos Financial Services Commission at: This email address is being protected from spambots. You need JavaScript enabled to view it. The report will be available on the Government website www.gov.tc along with the websites of the Attorney General’s Chambers www.gov.tc/agc and the Financial Services Commission www.tcifsc.tc

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Notes to Editor:

1. The FATF is an inter-governmental body established in 1989 currently comprising 36 members, with the participation of over 180 countries through a global network of FATF- style regional bodies. The objectives of the FATF are to set standards and promote effective implementation of legal, regulatory and operational measures for combating ML, TF and other related threats to the integrity of the international financial system.

2. Please refer to The FATF Recommendations 2012 and the FATF Guidance: National Money Laundering and Terrorist Financing Risk Assessment here: FATF Recommendations.