H. Role of financial intelligence units

Intelligence Unit of the Financial Police

Best practice with respect to Financial Intelligence Units

the expansion of financial intelligence units', which facilitate the effective corporation between government agencies and financial institutions.

An example of such cooperation is the Egmont Group of Financial Intelligence Units, an international organization set up to facilitate international cooperation among financial intelligence units around the world.

Financial intelligence units can play an important part here.

UIF staff have attended the following training courses and seminars

According to the Law on the Fight Against Legalizing the Illegal Income and Financing of Terrorism, the Central Bank acts as FIU.

In Australia, the Director of AUSTRAC may spontaneously exchange financial intelligence with his international counterparts without the need to follow formal mutual assistance treaty procedures.

In such instances FIA immediately notifies the Minister of Interior and the Minister of Finance.

(n) The role of financial intelligence units, including cooperation among units

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

FIA's information system will be upgraded as well (through EU PHARE investment project Upgrade of the Technological Environment of the Financial Intelligence Agency ).

Mentors also render on site assistance to establish and develop FIUs.

The role of a FIU is to analyse Suspicious Transactions Reports filed by financial institutions and other obligated non financial entities and to disseminate that intelligence to appropriate national authorities for investigation or prosecution.

For a more detailed description of financial intelligence units and their function, see www.egmontgroup.org egmont_final_interpretive.pdf.

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

UNODC has also been instrumental in helping extend the benefits of the FIU.NET initiative, with a view to linking financial intelligence units for better international exchange of intelligence on money laundering cases.

The Unusual Transactions Reporting Centre (the Netherlands Antilles' FIU) is a government department accountable to the Minister of Finance.

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

Where financing of terrorism appears to be the case, FIA has the duty to notify the Minister of Interior accordingly.

Plenary meeting of the Egmont Group of Financial Intelligence Units, Isle of Guernsey, United Kingdom and

Financial intelligence units can play a vital part in identifying financial activity that is potentially linked to terrorism.

This applies to the Dutch FIU (MOT), the specialised financial intelligence police unit (BLOM) and the Public Prosecution Service.

In some countries, financial intelligence units could also take preventive measures and conduct investigations.

FIOD ECD plays an active role in investigating organisations.

The purpose of the amendments was to reorganize functions within the Ministry and to concentrate most of them within the UIF.

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?

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.

As member of the Egmont Group, COAF is also entitled to exchange information with other financial intelligence units.

After that, members of the Council for Control of Financial Activities COAF, the Brazilian FIU, paid a visit to the rapporteur and to the Chairman of the Senate's Commission of Foreign Relations and National Defense.

The Financial Intelligence and Anti Money Laundering Regulations 2003 which came into effect on 21 June 2003

In addition, the fiscal investigation service, FIOD ECD, conducts inquiries into financial crime, including underground banking and violation of measures to freeze terrorist assets under the Sanctions Act.

Importantly, however, a more cohesive response is being built to respond to the laundering of criminal proceeds and many European States are participating in FIU.NET, an initiative that links financial intelligence units in the real time sharing of intelligence to support investigations.

Authorities should also review the operational effectiveness of their financial intelligence units in accordance with relevant international standards on a regular basis.

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

(c) Increase in the number of financial intelligence units assisted with a view to their becoming members of the Egmont Group

It should be noted that the General Directorate for Investigations of Transactions (DGAIO) is now called the Financial Intelligence Unit (UIF) and is attached to the Ministry of Finance and Public Credit, not the Attorney General's Office.

To this end, powers to investigate and report such crimes and monitor the related criminal proceedings were transferred from the Fiscal Prosecutor's Office (PFF) to the UIF.

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

This would suggest that States should foster closer cooperation between national authorities, such as financial intelligence units and other competent authorities.

This programme will help to establish a coherent permanent system for the continuous and constant improvement of the training scheme, developed and implemented by FIA.

The Unusual Transactions Reporting Centre (Aruba's FIU) is a government department accountable to the Minister of Finance and Economic Affairs, and also with regard to its staffing and budget to the Minister of Justice.

Indicators to report transactions relating to terrorist financing to the Unusual Transaction Reporting Centre (the FIU) have been adopted.

The Dutch FIU, known as the Unusual Transactions Reporting Centre (Meldpunt ongebruikelijke transacties, MOT), is an independent administrative body within the organisational structure of the Ministry of Justice.