1. Financial Intelligence Agency of the Turks and Caicos Islands (FIA- TCI) Presenter: Dwayne Baker, CAMS Director FIA- TCI March 24 th 2015 - 10 th CFATF AML/CFT Compliance Conference Regent Palms Resort, Providenciales Turks & Caicos Islands “AML/CFT Preventative Measures and Suspicious Activity Reporting”

2. Objectives List and describe preventative and additional measures put in place by TCI authorities for specific sectors. Discuss Suspicious Activity/ Transaction Reporting – its importance and your legal obligation.

3. Areas of Focus (Preventative and Additional Measures) Politically Exposed Persons Correspondent Banking Money Transfer Services New Technologies Wire Transfers

4. Politically Exposed Persons (PEPs) Who is a PEP? Any consideration for Relatives? How about associates? Is any information available? Do I have to take any special measures when dealing with a PEP? Have any additional measures been implemented?

5. Correspondent Banking Safegaurds – Shellbanks? …NO More on what the regulations stipulate…

6. Money value Transfer Services Licensed and regulated Guidelines Training and awareness

7. New Technologies & Wire Transfers Regulations Wire Transfers and DNFBPs

8. Suspicious Activity/ Transaction Reporting SAR/STR Your Obligations What’s available on this topic?

9. Who Reports?

10. SAR/STR Confidentiality – POCO Sec. 113 (1) No person, including a member, alternate member, employee or agent of the Reporting Authority and a person appointed to assist the Reporting Authority under section 108(3) shall disclose any information or matter that he acquires as a result of his connection with the Reporting Authority except as required or permitted – (a)by this Ordinance or any other enactment; or (b)an Order of the Supreme Court. (2) Subsection (1) does not apply to a person who discloses any information or matter with the authority of, and on behalf of, the Reporting Authority. (3) A person who contravenes subsection (1) is guilty of an offence and is liable— (a) on summary conviction to imprisonment for a term not exceeding twelve months or a fine not exceeding $10,000 or both; or (b) on conviction on indictment, to imprisonment for a term not exceeding two years or a fine of $50,000 or to both. (Amended by Ord. 19 of 2010)

11. Tipping Off Importance of staff training and awareness Manuals and Policies required to be in place.

12. Wrapping up. -Legislation, Code and Regulations Provide framework; implementation and effectiveness require checks and monitoring. - The AML/CFT regime is here to stay. It is important that stakeholders and reporting entities keep updated on changes and increased requirements