Safeguarding the Insurance Industry: AML/CFT/CPF Regime in Trinidad and Tobago 1

Trinidad and Tobago continues to strengthen its AML/CFT/CPF infrastructure to meet FATF (Financial Action Task Force) requirements. For insurance professionals, the shift from “tick-box compliance” to a Risk-Based Approach (RBA) is critical to navigating audits from the Central Bank and the Financial Intelligence Unit (FIU).

The insurance sector is a vital pillar of the financial system, but its complexity makes it a prime target for financial crimes. With evolving global standards and the specific regulatory landscape of Trinidad and Tobago, staying compliant is no longer just a legal necessity—it is a matter of institutional integrity.

This workshop provides a comprehensive deep dive into the Anti-Money Laundering (AML), Countering the Financing of Terrorism (CFT), and Countering Proliferation Financing (CPF) frameworks. We will move beyond theory to provide practical, sector-specific strategies for identifying and mitigating risk.

At the end of this session, participants will: · Understand the concepts of Money Laundering (ML), Terrorist Financing (TF), and Proliferation Financing (PF). · Know their legal obligations under Trinidad and Tobago's laws and regulations. · Be able to Identify red flags specific to the insurance industry. · Master the key pillars of a robust AML/CFT/CFP compliance program: KYC, CDD, EDD, and Suspicious Transaction Reporting. · Recognize the severe consequences of non-compliance for you and the industry.

Mr. Miller holds the designation as a Fellow of the Life Management Institute, Certified Anti-Money Laundering Specialist (CAMS) and Associate in Insurance Regulatory Compliance (AIRC). He has also led the charge as an adept change manager with a leading insurer with special experience in leveraging IT, possesses a highly successful track record in Customer Relationship Management, Strategic Management and Scenario Planning. His qualifications coupled with his unique skill and competencies demonstrate his aptitude as a well-versed lecturer / trainer.   More specifically, his role as a TTII lecturer and trainer has spanned a diverse range of subject areas namely Ethics, Long-term Insurance Business, AML/CFT/CPF, strategic planning and Ethics. His historical roots run deeply in the TTII, as he also served as President of the Council of Trustees. Regionally, he has held the position of 1st Vice President of the Association of Insurance Institutes of the Caribbean (AIIC). Not only is Ulric a well-versed subject matter expert, but with over 45 years’ experience, his role in the TTII and as an industry professional, he has been very instrumental in developing and preserving the knowledge landscape for the industry’s human capital.   His unwavering dedication to leadership and management is reflected in his service as a member on various state and private boards