Abstract

This publication Intelligence Units Working With Law Enforcement supports the implementation of the international anti-money laundering/countering financing of terrorism (AML/CFT) standards promulgated by the Financial Action Task Force (FATF) and other international organizations, and to propose good practices in cooperation among financial intelligence units (FIUs), law enforcement agencies and prosecutors (LEAs). Another objective is developing practical solutions to assist jurisdictions in better demonstrating how financial intelligence is effectively managed among the competent authorities responsible for combating money laundering, associated predicate offences, and terrorist financing. The publication is based on a joint study by StAR, the Egmont Group, and United Nations Office on Drugs and Crime - Global Programme against Money Laundering (UNODC GPML). In many jurisdictions, the level of cooperation between FIUs and LEAs could be significantly improved. StAR's new publication examines how the FIUs and LEAs cooperate with one another and identifies the impediments to their closer cooperation. Based on findings among a survey of FIUs and LEAs, and extensive consultations, the publication sets forth practical solutions to improve cooperation and the effective management of financial intelligence. In addition, the publication presents recommendations for policy makers to improve their policies related to the cooperation among FIUs and LEAs.

Highlights

  • Financial intelligence is collected by both public and private organizations and used by anti-money laundering/ countering financing of terrorism (AML/CFT) and other competent authorities to investigate money laundering, associated predicate offences, and terrorist financing

  • The survey data collected in this study shows that in a vast majority of jurisdictions (91 percent), the legislation requires that Financial Intelligence Units (FIUs) information disseminated to Law Enforcement Authorities and prosecutors (LEAs) be treated as confidential

  • FIU Access to Domestic Law Enforcement Information This section reports on whether and under which conditions the FIUs are authorized to collect, directly or indirectly, on a timely basis all relevant information kept by domestic law enforcement authorities/prosecutors (LEAs)

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Summary

Introduction

Background Financial intelligence is collected by both public and private organizations and used by anti-money laundering/ countering financing of terrorism (AML/CFT) and other competent authorities to investigate money laundering, associated predicate offences, and terrorist financing. It is a fundamental objective of international AML/CTF efforts for these authorities to be able to gather, assess, analyze, and deliver reliable, accurate, relevant, and upto-date information. Most countries establish FIUs in compliance with the Financial Action Task Force (FATF) Recommendations and other international AML/CFT standards as central national agencies responsible for receiving and analyzing suspicious transactions reports, and other information relevant to money laundering, associated predicate offences, and terrorist financing, and disseminating the results of their analysis to competent authorities. FIUs have been established in more than 160 jurisdictions and, as of July 2017, FIUs from 156 jurisdictions have been admitted to the Egmont Group.

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