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- Publisher
- Emerald Publishing
- Copyright
- © Emerald Publishing Limited
- ISSN
- 1368-5201
- DOI
- 10.1108/jmlc-09-2019-0077
- Publisher site
- See Article on Publisher Site
Abstract
This paper aims to explain the reasons for the introduction of unexplained wealth orders (UWOs) in Trinidad and Tobago and highlights potential obstacles to implementation.Design/methodology/approachThe research is based on secondary sources. The Civil Asset Recovery and management and Unexplained Wealth Act (CARAMAUWA) (2019) and relevant reports were reviewed.FindingsThe CARAMAUWA provides two potentially powerful tools to confiscate the proceeds of crime. However, the UWOs have greater potential. Effective implementation will require adequate human and financial resources, as well as measures to reduce corruption.Research limitations/implicationsThe CARAMAUWA became operational on 14 June 2019 so it was not possible to assess actual implementation.Practical implicationsUWO is a useful tool for controlling money laundering.Social implicationsEffective control of money laundering can reduce crime.Originality/valueNo other study has examined the reasons for the introduction of the UWO in Trinidad and Tobago and the potential challenges to implementation.
Journal
Journal of Money Laundering Control – Emerald Publishing
Published: May 18, 2020
Keywords: Money laundering; Unexplained wealth order