TCI COMPLETES NATIONAL RISK ASSESSMENT ON MONEY LAUNDERING AND TERRORIST FINANCING

A team from the Financial Market Integrity Unit of the World Bank Group is in the Turks and Caicos Islands to assist in the completion of a National Risk Assessment on Money Laundering and Terrorist Financing. The risk assessment process itself is organized, led and undertaken by the national Anti-Money Laundering Committee using the World Bank Group’s self-assessment methodology. The Hon. Attorney General Rhondalee Braithwaite Knowles OBE chairs the Anti-Money Laundering Committee.
 
The assessment aims to identify the primary money laundering and terrorist financing (ML/TF) risks in the country through a comprehensive analysis that will facilitate the making of comprehensive action plans to allow for a consistent approach to decrease the levels of risks, and strengthen controls and supervisory oversight in each sector. This will help allocate resources for the fight against money laundering and terrorism financing more effectively and efficiently, while meeting international standards as established by e.g., the Financial Action Task Force (FATF).
 
The World Bank Group has assisted the Turks and Caicos Islands in understanding the underlying methodology and in the use of the tool. This way, the Turks and Caicos Islands will build the capacity to undertake future risk assessments with no or minimal external support. The self-assessment methodology supports collaboration between the different government agencies and private sector parties that are jointly responsible for the country’s anti-money laundering and counter terrorism financing efforts. The World Bank Group has supported over seventy (70) countries in performing their national risks assessments since 2010.
 
The Turks and Caicos Islands National Risk Assessment was launched during the first initial workshop which was held over the period October 21-23, 2014. This second and final workshop marks the end of the NRA project with around fifty stakeholders and representatives from both the public and private sectors from 26th and 27th June 2017 at the Blue Haven Resort Conference
 
Room on Providenciales, Turks and Caicos Islands from 8am to 4:30pm daily with a half day closed policymakers’ workshop on 28th June 2017.
 
Attorney General Rhondalee Braithwaite Knowles said; “This exercise will provide an opportunity for the Turks and Caicos Islands to evaluate whether existing legislative and administrative arrangements are adequate and sufficient to address existing and emerging threats in line with international standards. The assessment will also assist the TCI, including financial sector stakeholders to apply a risk-based approach in their business practices. We have had the support of both public and private sector stakeholders and are very grateful for their collaboration.”
 
For more information on the National Risk Assessment, please contact Khalila Astwood, Principal Crown Counsel, International at the TCI Attorney General Chambers at This email address is being protected from spambots. You need JavaScript enabled to view it. or Paul Coleman Head of 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.

TCI REPRESENTED BY EIGHT ATHLETES AT NACAC GAMES IN TRINIDAD

The Ministry of Education, Youth, Sports and Library Services congratulates the team of eight athletes who represented the Turks and Caicos Islands at the Youth North America, Central American and the Caribbean Games (NACAC) on an excellent performance at this year’s track and field meet held in Port of Spain, Trinidad, June 17 & 18, 2017.

The Ministry commends the entire team on a splendid performance and send out special congratulations to:

  • Tanesia Gardiner, won silver medal in the 11-12 year old category for 800 meters and obtained a ribbon in the high jump;
  • Sarah Forbes in the Shot Put;
  • Lynn Antoine, 800 meters
  • Redeem Hall received 2 ribbons in the Long Jump and the High Jump, and their coaches and chaperones.

The newly appointed Minister of Education, Youth, Sports and Library Services, Hon. Karen Malcolm stated; “I am happy that our young people had the opportunity to again compete at the regional level. I see it as a positive form of motivation for them and encourage them and other hopeful athletes to continue to work hard as my government remains committed to providing the necessary resources to help them to achieve success.”

Ministry of Tourism, Environment, Heritage, Culture & Gaming - Mapping the Turks & Caicos from Space

June 19 through 21, 2017 will see yet another important training initiative for the Department of Environment and Coastal Resources (DECR).

The training-workshop is part of the project “Natural Capital Valuation” spearheaded by the Joint Nature Conservation Committee (JNCC), of which 10 Territories in the Caribbean and South Atlantic are involved. 

The JNCC, with funding by the UK Government, will be hosting a training workshop which aims to introduce ecological remote sensing and show how it can benefit the Turks & Caicos for their spatial planning and environmental management needs.

The primary aim of the collaboration between the Government of the Turks and Caicos, through the DECR, and the JNCC, is to assess the value of the natural environment such as beaches, reefs and mangrove forests and the services and goods derived from them, such as the benefits from the local fisheries. This training will not only provide the technical skills to map - through satellite imagery and computer programs - the natural environment and the benefits derived from it; but also how this knowledge can be employed to benefit environmental management and spatial planning in the Turks and Caicos Islands”, said Mr. Ethan Griesbach, Deputy Director for the DECR.

The TCI and the British Virgin Islands (BVI) who will be represented at the workshop have tourism dependent economies, which include beach and dive tourism, boating services and yacht charters, all of which directly benefit from services provided by local ecosystems such as beaches, coral reefs, sea grass beds and mangroves.

The DECR – JNCC collaboration, which will run through to 2019, will provide significant data, training and information to inform economic development, terrestrial, coastal and marine spatial planning within the islands, and support environmental management and resilience building measures.

In addition to supporting the important tourism sector, Caribbean ecosystems provide recreational opportunities for the local population, protect coastal and inland infrastructure, prevent soil degradation and coastal/beach erosion, provide valuable scientific research opportunities, and support commercial fishing industries that provide economic and social benefits.

For more information about the project, please contact the DECR at 338-4170 or This email address is being protected from spambots. You need JavaScript enabled to view it..