Financial intelligence unit

financial police intelligence unit,

Intelligence Unit of the Financial Police

The Financial Intelligence Unit also initiates its own analysis of financial transaction reports and disseminates financial intelligence assessments to relevant authorities.

Over 100 States have established a Financial Intelligence Unit (FIU).

The Financial Intelligence Unit became operational in the early 1990s.

An example of an effective Financial Intelligence Unit is given at annex III.

The Financial Intelligence Unit shares information with overseas counterparts, both directly and through law enforcement channels.

The establishment under the aforementioned Act of the Financial Intelligence Unit is a measure to detect and prevent terrorist activity in that the Unit is responsible for collecting and processing financial intelligence concerning channels for money laundering and the financing of terrorism.

Could Thailand please confirm whether such professionals do report suspicious transactions to the Thai Financial Intelligence Unit?

All States should have a financial intelligence unit that satisfies the criteria for membership of the Egmont Group.

14 Economist Intelligence Unit, www.eiu.com.

23 Economist Intelligence Unit, www.eiu.com.

Ideally, the financial intelligence unit will play this part by assisting investigations into terrorist financing, both domestically and internationally.

27 Economist Intelligence Unit, December 2002.

In addition, the Financial Intelligence Unit (UIF) meets periodically with various financial intermediaries for feedback purposes and provides courses and seminars to entities that request them.

26 Oceania Flash, 23 October 2002 Economist Intelligence Unit, ViewsWire, 18 December 2002 Economist Intelligence Unit, Country Report New Caledonia, March 2005.

The Government had established the Indonesian Financial Transaction Report and Analysis Center, an independent financial intelligence unit, and the ministerial level National Coordination Committee on anti money laundering.

Mr. Dan O'Brien, Senior Editor, Economist Intelligence Unit

The establishment of a financial intelligence unit is one of the important initial steps in establishing an effective national regime against money laundering.

In addition, any person who moves significant amounts into or out of the country is also obliged to report to the Financial Intelligence Unit.

In particular, the CTC would appreciate learning the number of suspicious transactions which have been reported to the Thai Financial Intelligence Unit in recent years?

A State Decree was implemented in 2003 requiring the designated financial service providers (including banks) to report all transactions possibly related to the financing of terrorism to the Aruban Financial Intelligence Unit.

11 Economist Intelligence Unit, Country Report New Caledonia, December 2003.

According to the Economist Intelligence Unit, unemployment is negligible.23

6 Economist Intelligence Unit, www.eiu.com The Island Sun, December 2004.

31 Economist Intelligence Unit, Country Reports, December 2002 and December 2003.

Establishment of financial intelligence units

A financial intelligence unit is a national centre for receiving (and, as permitted, requesting), analysing and disseminating suspicious transaction reports and other information regarding potential money laundering.

The Financial Intelligence Unit has memorandums of understanding with those domestic authorities and agencies entitled to access its information in connection with their regulatory or investigative role.

In its regulatory role, the Financial Intelligence Unit maintains standing committees that ensure that the providers of financial transaction reports are consulted regarding the implementation and operation of the relevant provisions of the legislation.

H. Role of financial intelligence units

18 Economist Intelligence Unit, Country Report New Caledonia, September 2004 and March 2005.

25 Agence France Presse, 22 January 2002 Economist Intelligence Unit, 21 March 2002.

Australia's financial intelligence unit, AUSTRAC, also monitors the financial transactions of NPOs in the same way that it monitors other organizations, by scrutinizing their international funds transfer instructions, significant cash transactions, suspect transactions and international currency transfers.

Specialisation within all bodies involved in combating the financing of terrorism. This applies to the Dutch FIU (MOT), the specialised financial intelligence police unit (BLOM) and the Public Prosecution Service.

Best practice with respect to Financial Intelligence Units

In its second report (S 2005 83, paras. 95 96), the Monitoring Team recommended that the Security Council urge States that have not yet established a Financial Intelligence Unit to do so.

Pursuant to a legislative decree on money laundering, a financial intelligence unit had been established within the Central Bank of Kuwait with national responsibility for combating money laundering and the financing of terrorism.

Financial intelligence units can play an important part here.

Some speakers stressed the critical role played by financial intelligence units in the analysis of suspicious financial transactions and reported on the establishment or functioning of financial intelligence units in their countries.

According to the Economist Intelligence Unit, the British Virgin Islands have 210 kilometres of surfaced roads.

Cash dealers, as defined under section 3 of the Financial Transaction Reports Act 1988 (FTR Act), are required to report their suspicions to AUSTRAC Australia's financial intelligence unit where they suspect funds are linked or related to any indictable offence, including terrorist activity.

Establishment of a financial investigation unit to monitor illicit financial transactions.

(b) If the answer is Yes , has a financial intelligence unit been established in your country to serve as a national centre for the collection, analysis and dissemination of information related to money laundering activities?