STRs/SARs play a crucial role in the fight against money laundering and terrorism financing and the FIUTT is committed to ensuring that Reporting Entities in the Republic of Trinidad and Tobago file STRs/SARs of the highest quality.
The FIUTT Guidance Note On Suspicious Transaction/Activity Reporting Standards is intended to provide assistance to Financial Institutions and Listed Business (Reporting Entities) in meeting their obligations to make a Suspicious Transaction or Suspicious Activity Report (STR/SAR) to the Financial Intelligence Unit (the FIUTT). These obligations are imposed under:
- Section 55 (3) of the Proceeds of Crime Act (the POCA) and
- Section 22AB (d) and 22C (3) of the Anti-Terrorism Act (the ATA).
This Guidance Note includes information on who must file, when to file, how to complete the STR/SAR form set out in the Third Schedule of the POCA and the procedure for submission to the FIUTT. The Guidance Note should be read together with the POCA, the ATA, the Financial Obligations Regulations, 2010 (the FOR) and the Financial Obligations (Financing of Terrorism) Regulations 2011.