Central Bank of Trinidad and Tobago

In the fifth Note in its Public Education Series, the Central Bank outlines the potential impact of climate change on Trinidad and Tobago. This Note, along with previous issues, can be accessed on our website via the following link: https://lnkd.in/e9s4bJCp. We look forward to comments and feedback on these Notes at [email protected].

During the month of October, in honour of Cybersecurity Awareness Month, we have been sharing a “Cybertip of the Day” with information and advice to help you to be more secure while browsing or conducting transactions online. Check out our final week roundup of cybertips 💻

On October 30, 2024 Governor Hilaire made a presentation at the Capital Markets Conference hosted by the Trinidad and Tobago Stock Exchange. In discussing the future of #electronic #money, he highlighted the importance of the fast #payments project based on India’s Unified Payments Interface (UPI) model that was being launched in Trinidad and Tobago. In addition, he served as a panelist alongside the Governors of the Central Bank of Guyana, Dr. Gobind Ganga and the Bank of Jamaica, Mr. Richard O. Byles, for a panel discussion entitled “Harmonizing Regulatory Oversight: Optimizing Efficiency through Prudential Supervision and Market Conduct”. During the discussion he raised the importance of recognizing and adapting to technological advances in order ensure that as a country we are not left behind. He further emphasized the importance of collaboration with regional #central #banks and key institutions with respect to implementing #policy and streamlining supervisory practices. Dr. Hilaire’s PowerPoint presentation can be accessed on our website via the following link: https://lnkd.in/dVB4CnZD

During the month of October, in honour of Cybersecurity Awareness Month, we have been sharing a “Cybertip of the Day” with information and advice to help you to be more secure while browsing or conducting transactions online. Check out our week 4 roundup of cybertips 💻

The use of electronic money has grown exponentially. Almost 2 billion users handle about 1.4 trillion dollars annually. E-money offers tremendous benefits, including financial inclusion, and faster and cheaper payments. But we need to address financial stability risks and protect users from potential losses.   The IMF helps authorities regulate and supervise e-money systems while fostering innovation, as we heard from the Governors of the Central Banks of Guatemala and Trinidad-and-Tobago at the Annual Meetings, in coordination with partner organizations. https://lnkd.in/e2fEV7wW

Scenes from Washington, D.C. at the International Monetary Fund (IMF) Annual Meetings. Governor Alvin Hilaire took a moment with Dr. Reshma Mahabir, Alternate Executive Director to share more about her role and contributions as representative for Trinidad and Tobago to the IMF. #IMFMeetings

On October 22, 2024, on the occasion of its Annual Meetings, the IMF held a panel discussion on “Digital Currency Revolution: Architecting the Future of E-Money Systems” where Governor Alvin Hilaire served as a panelist. Following the discussion, he participated in a short interview with Amanda Walker, a presenter from IMF Today, about his greatest takeaways from the session.    In the interview, he shared that he was very optimistic that Trinidad and Tobago was on a journey towards #financial #inclusion with E-money and #digital #currency. In addition, while there may be differences across the world with respect to culture and geography, a common thread is that people all want to have access to financial transactions that are modern, safe and efficient. He was resolute that having a clear, objective and direct approach to how we regulate and oversee the integration of #fintech and deal with the regulation of crypto-currency, is the way forward.   A recording of the Panel Discussion and subsequent IMF today Interview can be accessed via the following links:   Panel Discussion: https://lnkd.in/dqu-4G97   IMF Today Interview: https://lnkd.in/dHYijXZR #digitalcurrency #emoney #cryptocurrency

In recognition of Cyber Awareness Month, the Bank hosted a Lunch and Learn session entitled “Banking Trends and Cyber Threats: What you need to know” on October 23, 2024 to sensitize staff about potential safety issues that could be encountered online as well as measures which can be taken to reduce these #risks.   Mr. Julian Waits, Senior Vice President, Rapid7 was accompanied virtually by Mr. Marco Valdes (Marco V.) and Ms. Alicia Laureti who presented information relating to #cyber #safety and shared key tips on how to identify scams and avoid falling victim to cybercriminals. Tips such as being aware of #phishing tactics and using complex passwords and multi-factor authentication were highlighted. Further, the presenters discussed a growing trend in which email or social media accounts were compromised in order to try to obtain sensitive information from unsuspecting individuals. They also shared instances of #artificial #intelligence being used to mimic voices as well as appearances of family members or friends to lure persons into taking specific actions. Attendees were advised to independently verify any request received to ensure that it is authentic.     Mrs. Arlene Popplewell, NFLP Facilitator, shared with the audience certain red flags to look out for and avoid in order to safeguard from #financial #fraud. For example, promises of large payout in exchange for a small “processing” fee or requests to send banking details in order to receive payments of “gifts” or “prizes”.   For more cyber safety tips, you may visit our website https://lnkd.in/dVz5tvZT.   #CyberSecurity #cybersafety #centralbanktt

On October 22, 2024, on the occasion of its Annual Meetings, the IMF held a panel discussion on “Digital Currency Revolution: Architecting the Future of E-Money Systems”. The Central Bank Governor, Dr. Alvin Hilaire, served as a panelist and in his talk he addressed our country’s journey into the fintech space as well as key lessons learnt which inform our path for moving forward. The PowerPoint document that formed the basis of Dr. Hilaire’s remarks can be accessed on our website via the following link: https://lnkd.in/dmqEHFdk In addition, a recording of the Panel Discussion and subsequent IMF today Interview can be accessed via the following links: Panel Discussion: https://lnkd.in/dqu-4G97 IMF Today Interview: https://lnkd.in/dHYijXZR

During the month of October, in honour of Cybersecurity Awareness Month, we have been sharing a “Cybertip of the Day” with information and advice to help you to be more secure while browsing or conducting transactions online. Check out our week 3 roundup of cybertips 💻