OUR DILIGENCE

J&T Bank and Trust has a history of practicing sound AML, KYC and due diligence in an effort to prevent fraud, money laundering and terrorist financing. These have all been identified as major risks to the international financial services community.  Barbados has passed legislation designed to prevent money laundering and to combat the financing of terrorism.

The Board of Directors of JTBT views money laundering prevention and the combating of terrorism as an integral part of the banks risk management strategy and has developed an AML/CTF Policy and Guidelines that seek to identify, mitigate and manage money laundering and and terrorists financing risks.

 

Foreign Account Tax Compliance Act

The Foreign Account Tax Compliance Act (FATCA) is a 2010 United States federal law, which is intended to enforce the requirement for United States persons including those living outside the U.S to file yearly reports on their non-U.S financial accounts to the Financial Crimes Enforcement Network (FINCEN). The aim is to detect and deter the evasion of U.S tax by persons who invest money outside of the U.S. 

​J&T Bank and Trust, a licensed financial institution must comply with the FATCA reporting requirements. We are a registered reporting entity with the Barbados Revenue Authority and have complied with all reporting requirements to date. Our information, which is encrypted, is sent to the Barbados Revenue Authority and no other parties have access to the information. They in turn have the responsibility to provide the information to the U.S government, if requested, on specific queries.

J&T Bank and Trust Inc. is also compliant with the Common Reporting Standards (CRS)