Attorney General, Faris Al Rawi revealed that billions of dollars in suspicious transactions have been uncovered in Trinidad and Tobago.
He said the passing of the Bill is one way to curb money laundering occurrences in Trinidad and Tobago.
Addressing the Chamber of Industry and Commerce on Wednesday, Mr. Al-Rawi said the country has to develop intolerance for money laundering, corruption and inefficiency.
The Chamber presented its Mutual Evaluation Report on money laundering and terrorist risks to Trinidad and Tobago.
Explaining that the Bill is about transparency and equality, he called on the local business community to lobby the opposition for the Bill to be passed.
During the discussion section the Attorney General addressed the issue of a link between white collar criminals and murder and kidnapping since there has been a suggestion that they do not only participate in financial crime.
He also reminded that terrorism existed in every part of the world.