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Thursday, August 14, 2025

FIU warns against unauthorised sharing of sensitive financial crimes info

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NEWS DESK
1983 days ago
20200310
The FIU warns against unauthorised sharing of info on financial crimes

The FIU warns against unauthorised sharing of info on financial crimes

GUARDIAN

The Fi­nan­cial In­tel­li­gence Unit of Trinidad and To­ba­go (FIU) is warn­ing mem­bers of the pub­lic about unau­tho­rised shar­ing of crit­i­cal in­for­ma­tion on fi­nan­cial crimes, which could hurt any le­gal ac­tion that could be tak­en, or even jeop­ar­dise the safe­ty and se­cu­ri­ty of per­sons in­volved in those cas­es.

In an of­fi­cial state­ment re­leased on Mon­day, the FIU re­minds the pub­lic and all stake­hold­ers that con­tra­ven­tion of the Fi­nan­cial In­tel­li­gence Unit Act, as well as the Pro­ceeds of Crime Act, con­cern­ing fi­nan­cial crimes, could see those re­spon­si­ble for the breach­es face fines, as well as im­pris­on­ment.

The full text of the FIU’s state­ment, fol­lows…

“The Fi­nan­cial In­tel­li­gence Unit of Trinidad and To­ba­go (the FIU) con­tin­ues to com­ply with its le­gal oblig­a­tions to keep con­fi­den­tial all in­tel­li­gence and in­for­ma­tion gath­ered in the ex­e­cu­tion of its func­tions.

The FIU fur­ther un­der­scores to the pub­lic and all stake­hold­ers, the im­por­tance of con­fi­den­tial­i­ty in com­bat­ting mon­ey laun­der­ing, fi­nanc­ing of ter­ror­ism and oth­er re­lat­ed crimes.

Pur­suant to Sec­tion 23(1) of the Fi­nan­cial In­tel­li­gence Unit Act, Chap. 72:01, any per­son oth­er than an FIU of­fi­cer, who, in the course of his busi­ness ob­tains or re­ceives in­for­ma­tion from the FIU, and know­ing­ly dis­clos­es the in­for­ma­tion to any per­son, com­mits an of­fence and is li­able on sum­ma­ry con­vic­tion to a fine of two hun­dred and fifty thou­sand dol­lars and to im­pris­on­ment for three years.

Fur­ther­more, “tip­ping off” is ab­solute­ly pro­hib­it­ed un­der law. Sec­tions 51 (1) and 53 (2) of the Pro­ceeds of Crime Act, Chap. 11:27, makes a per­son li­able on sum­ma­ry con­vic­tion to a fine of five mil­lion dol­lars and to im­pris­on­ment of five years if he knows or sus­pects that a Po­lice Of­fi­cer is act­ing or propos­ing to act in con­nec­tion with an in­ves­ti­ga­tion or pro­posed in­ves­ti­ga­tion con­cern­ing mon­ey laun­der­ing, and dis­clos­es to any oth­er per­son, in­for­ma­tion or oth­er mat­ter which is like­ly to prej­u­dice that in­ves­ti­ga­tion or pro­posed in­ves­ti­ga­tion.

Apart from com­mit­ting the above-men­tioned of­fences, unau­tho­rised dis­clo­sure may jeop­ar­dise per­son­al safe­ty and se­cu­ri­ty of in­di­vid­u­als, neg­a­tive­ly af­fect both per­son­al and busi­ness rep­u­ta­tions.

The pub­lic is asked to be guid­ed ac­cord­ing­ly.”


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