Trinidad and Tobago demonetisation hit illegal activities, central bank says
Financial Intelligence Unit recorded 900 reports of suspicious transactions in three-month window
A “significant portion” of banknotes in Trinidad and Tobago no longer deemed legal tender were not returned to banks, the nation’s central bank says.
According to research from the Central Bank of Trinidad and Tobago, this is likely to have been partly due to money laundering and other illegal activities.
At the end of 2019, the central bank replaced the cotton TT$100 ($14.78) note with a polymer equivalent in an attempted to “curb financial crimes”. From December, members of the public were
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