11.3. Financial intelligence unit and its core functions
The FIU is a national center that serves the following main functions (R. 29)
Applicable to the administrative FIU model
1.Receipt
2.Analysis
(a) Suspicious transactions reports
(b)Other relevant information on ML/FT and associated predicate offences
(c)Additional information from reporting entities requested by the FIU
(d)Financial, administrative and law enforcement information from the widest range of public sources or collected and
maintained by authorities
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However, the software |
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The FIU should add value to the |
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information and should be en- |
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cannot fully replace hu- |
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couraged to use advanced analyt- |
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man judgment |
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ical software |
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Strategic analysis: to identify |
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money laundering and terrorist |
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Operational analysis: to follow |
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financing patterns and trends in |
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the trail of transactions and to link |
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order to determine relevant |
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specific persons identified with |
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threats and to eliminate vulnera- |
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predicate offences, money laun- |
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bilities by establishing policies |
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dering activities, or terrorist fi- |
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and goals for bodies within the |
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nancing |
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AML/CFT regime |
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Information sharing with foreign FIUs |
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3. Dissemination |
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Dissemination upon request: |
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the FIU responds to information |
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requests from competent authori- |
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Spontaneous dissemination: the FIU |
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ties and the decision on conduct- |
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disseminates selected information to |
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ing dissemination remains with |
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competent authorities when there are |
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the FIU |
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grounds to suspect predicate offences, |
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money laundering or terrorist financing |
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89 |
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11.4. AML/CFT responsibilities of law enforcement and investigative authorities
Designated law enforcement and investigative authorities (R. 30)
Should have responsibility for
Within the national
AML/CFT framework
Money laundering and terrorist financing investigations
Traditional criminal investigations into money laundering, terrorist financing and/or predicate offences
Financial investigations – inquiries into the financial affairs of related criminal activity
At least in cases related to major proceedsgenerating offences
A pro-active parallel financial investigation should be developed by these authorities
Tracing the proceeds of crime, terrorist funds or any other assets subject to confiscation
Identifying the extent |
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Developing evidence which can |
of criminality |
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be used in criminal proceedings |
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11.5. Detecting and countering activities of cash couriers for the AML/CFT purposes
Legal authority of the law en- |
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If the movement of cash is related |
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forcement to stop and restrain such |
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to ML, TF or predicate offences |
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transportation |
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Measures to detect the physical cross-border transportation of currency (or bearer negotiable instruments – BNIs), R. 32
Applicable to both incoming |
The information obtained should |
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and outgoing transportation |
be made available to the FIU |
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Precious metals and precious |
Competent authorities should be |
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able to stop or restrain cash and |
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stones are not included, their |
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BNIs where there is a false decla- |
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movement is otherwise covered |
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ration/disclosure or a suspicion of |
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under customs regulations |
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ML/FT |
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Declaration system with a maximum thresh- |
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Disclosure system |
old of USD/EUR 15,000 |
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(a) Written declaration system for all travelers requires 
the completion of a declaration, ticking a “yes”/ “no” box if they carry currency or BNIs above the threshold
(b) Written declaration system for travelers carrying the amounts above the threshold requires only such persons to complete a declaration
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There is no requirement for travelers |
(c) Oral declaration system for all |
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to make an upfront written or oral |
travelers requires them to choose be- |
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declaration, they are only required to |
tween the “red channel” and the |
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give a truthful answer to competent |
“green channel” |
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authorities upon request |
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91 |
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