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Caribbean AML/CTF Principles
and Associated Guidelines


News and Press Releases



October 26th, 2009 – The Caribbean Association of Indigenous Banks, Inc (CAIB) launched its Caribbean AML/CTF Principles for Correspondent Banking, in Trinidad and Tobago, to coincide with the AML training provided by CAIB’s strategic partner, the FIBA AML Institute. These Principles were developed by CAIB’s Advocacy Committee for the purpose of promoting the standards and reputation of Caribbean financial institutions.

The Caribbean Principles constitutes a global guidance on the establishment and maintenance of internationally accepted banking standards to prevent money laundering and the financing of terrorism. “The application of these Principles will serve to enhance the integrity of Correspondent Banking relationships”, says Mr. Larry Howai, Chief Executive Officer, First Citizens Bank, a member bank of the CAIB whose Board has adopted the Principles.

The launch was timely as Caribbean bankers and financial professionals from across the region gathered in Trinidad to receive training to earn their Anti-Money Laundering Certified Associate (AML/CA) and Certified Professional in Anti- Money Laundering (CP/AML) designation through the FIBA Anti-Money Laundering Institute, in partnership with Florida International University.

“Caribbean bankers have shown their commitment to training and being proactive in protecting their institutions from abuse by money launderers and illicit financial activity,” said Mrs. Patricia Roth, Executive Director of FIBA. “The Caribbean Anti-Money Laundering Principles are another demonstration of how seriously AML Compliance is taken in the region.”


“Money laundering and financial crime are a growing threat that makes it increasingly important for people to be trained and alert in identifying suspicious activities and international organized crime” emphasized Mr. Wayne Wray, Chairman of CAIB and one of the speakers who officiated at the Launch. Mr. Carl Hiralal, Inspector of Financial Institutions for the Central Bank of Trinidad and Tobago, gave a feature address and complimented CAIB on its initiative. Mr. Brian Stuart- Young from CAIB’s Advocacy Committee formally introduced the Caribbean Principles and officially presented a copy to the Bankers Association of Trinidad and Tobago. CAIB will distribute copies to all member banks and regulators.