AML FAQs

Anti-Money Laundering and Combatting the Financing of Terrorism activities are undertaken by Organisations to ensure their institutions are not used as a channel for the transfer of illicit funds.

The Bank wants to ensure that you are protected from AML/CFT risk. In keeping with international standards and local legislation, you are required to provide your financial institution with the relevant information when requested to do so.

Under the Financial Obligations Regulations of T&T (2010), Banks are required to obtain standard personal information to ensure that they retain accurate and updated customer records. Based on your profession and/or business activity, more information may be requested.

All customers, both individuals and businesses, are required to provide this information to the Bank.

No, however you will be required to update the Bank should your information change – e.g. name change, expired ID, change of address, job etc.

This information is for internal use only and will be shared with Regulatory Authorities is specifically requested by them.

Personal Customers:

1. 1 Valid Form of Photo ID
2. Proof of Address (Utility bill)
3. Proof of Income (Recent Job letter/Salary Slip no older than 3months)

Company/Registered Business (Limited Liability):

1. Utility Bill in the company’s registered business name at the physical business location where the service would have been installed.
2. Utility bills and 1 form of valid photographic ID for each company official
3. Company Registration documents:
   • Articles of Incorporation including Certificate of Incorporation/Continuance
   • Notice of Address
   • Notice of Directors
   • Notice of Secretary
4. Annual Return (most recent for a company in existence for more than one (1)year)
5. Up-to-date Audited Financial Statements / Management Accounts (for the last three (3) years)/opening Balance Sheet & Cash Flow projections for start-up entities
6. Banker’s Reference (applicable, if no financial statement/management accounts are available)
7. Company Stamp (for registered entities)
8. Board Resolution or minutes authorising the opening of the account or the establishment of the relationship

Partnership:

1. Utility Bill in the Partnership’s business name at the physical business location where the service would have been installed
2. Utility bills and 1 form of valid photographic ID for each partner
3. Certificate of Partnership (for registered entities)
4. Up-to-date Audited Financial Statements / Management Accounts (for the last three (3) years)/opening Balance Sheet & Cash Flow projections for start-up entities
5. Banker’s Reference (applicable, if no financial statement/management accounts are available)
6. Company Stamp (for registered entities)

Sole Trader:

1. Utility Bill in the Sole Trader’s personal or registered business name at the physical business location where the service would have been installed
2. A utility bill in the personal name of the Sole Trader at his/her physical home address
3. One form of valid photographic ID for the Sole Trader
4. Certificate of Registration (for registered entities)
5. Up-to-date Audited Financial Statements / Management Accounts (for the last three (3) years)/opening Balance Sheet & Cash Flow projections for start-up entities
6. Banker’s Reference (applicable, if no financial statement/management accounts are available)
7. Company Stamp (for registered entities)

Clubs/Societies/Association/NGOs/NPOs/Charity/Trust:

1. Utility Bill in the entity’s name at the physical business location where the service would have been installed
2. Utility bills and 1 form of valid photographic ID for each official
3. Registration documents (if applicable):
   • Articles or Charter of Incorporation
   • Notice of Directors
   • Notice of Secretary
   • Notice of Address
4. Annual Return (most recent for an entity in existence for more than one (1)year)
5. Copy of the most recent Annual General Meeting (AGM) minutes
6. Constitution/Rules/Bye Laws/Minutes of meeting appointing Bankers
7. List of officers/members
8. Up-to-date Audited Financial Statements / Management Accounts (for the last three (3) years)/opening Balance Sheet & Cash Flow projections for start-up entities
9. Banker’s Reference (applicable, if no financial statement/management accounts are available)
10. Organisation Stamp (for registered entities)