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THE Financial Intelligence Unit of TT (FIUTT) and the Inland Revenue Division (IRD) have signed a memorandum of understanding (MoU) on the exchange of financial intelligence.

A statement issued by the Finance Ministry on January 19 said the objective of the MoU is for both departments to collaborate within the provisions of their respective governing acts, and to subsequently share information on their own motion or upon request.

In this regard, the FIUTT Act provides for the FIUTT’s collection, analysis, dissemination and exchange of financial intelligence to law enforcement authorities (including the IRD).