Suspected fraud, particularly online scams, continues to dominate financial crime reports in Trinidad and Tobago, according to the latest annual report from the Financial Intelligence Unit of Trinidad and Tobago (FIUTT).

The findings were outlined by FIUTT Director Nigel Stoddard in his comments in the report, which covers the period October 1, 2024, to September 30, 2025.

The report was laid in the first laid in the Senate on March 24 and later in the House of Representatives on March 27.

During that time, 1,523 suspicious transaction and activity reports (STRs/SARs) were submitted, a 4.4 percent increase compared with the previous reporting period. 

The total value of those reports exceeded TT$1.25 billion (US$184,642,375), with completed transactions accounting for more than TT$762 million (US$112,557,991) and attempted transactions just under TT$491 million (US$72,527,524).

Fraud-related cases accounted for 59 percent of reports, with online scams identified as the main driver. Suspected money laundering made up 16 percent, while other filings involved suspicious activity and tax-related offences.

The FIUTT said its intelligence supported investigations by the Trinidad and Tobago Police Service, contributing to 112 money laundering charges laid against 13 individuals during the period.

The report also pointed to continued expansion in regulatory oversight, with 5,072 entities now registered for anti-money laundering supervision. Growth was strongest in sectors such as real estate, motor vehicle sales and legal services.

The FIUTT said it continues to strengthen its intelligence-sharing role with both local and international partners, while moving to improve compliance systems through greater digitalisation.

Looking ahead, the agency plans to expand its use of advanced technologies, including artificial intelligence, to better detect emerging financial crime trends and support law enforcement efforts.

“We are committed to enhancing this framework for a more robust PPP and to engaging even more frequently with the Supervised Entities on a one-on-one basis. 

“We will leverage cutting-edge technologies, such as artificial intelligence and machine learning, to enhance our analytical capabilities and proactively identify emerging threats, thus increasing intelligence reports to LEAs in a timely manner, for investigation. The FIUTT’s mission is clear, and our vision remains firmly in view as we perform our functions without fear or favour, malice or ill-will,” he said.