1. Overview of a Financial Intelligence Unit
Katia Sanches International Technical Advisor AUSTRAC

2. Definition of a FIU (EGMONT 2009)
“An FIU, quite simply, is a central office that obtains financial report information, processes it in some way and then discloses it to an appropriate government authority in support of a national anti-money laundering or counter terrorism financing effort”

3. Financial Intelligence Unit Overview
Designated Agencies
Information flow
Information distribution

4. The different FIU frameworks:
Administrative
Law enforcement
Judicial/prosecutorial
Hybrid
The different FIU frameworks:

5. International Influences
Financial Action Task Force (FATF)
40 Recommendations & 9 Special Recommendations
Egmont Group of Financial Intelligence Units
Created to stimulate international cooperation
Asia/Pacific Group on Money Laundering (APG)
United Nations

6. FATF Perspective Recommendation 26:
Countries should establish a FIU that serves as a national centre for the receiving, analysis and dissemination of STR and other information regarding money laundering and terrorist financing.
The FIU should have access to financial, administrative and law enforcement information that it requires to properly undertake its functions.

7. AUSTRAC - Australia’s Experience
FIU considerations:
Governance
Reporting
Compliance
Analysis
Stakeholders – domestic and international
Information technology
Strategic planning for FIU priorities

8. AUSTRAC’s FIU role
Australia's Financial Intelligence Unit (FIU)
Support Partner Agencies
Develop and disseminate intelligence to partner agencies

9. Useful Websites FATF APG Egmont AUSTRAC www.fatf-gafi.org
Egmont
AUSTRAC

10. AUSTRAC website. AUSTRAC Help Desk http://www. austrac. gov. au
AUSTRAC website AUSTRAC Help Desk
DISCLAIMER:
The information contained in this document is intended only to provide a summary and general overview on these matters. It is not intended to be comprehensive. It does not constitute nor should it be treated as legal advice or opinion. This presentation contains statements of policy which reflect AUSTRAC’s administration of the legislation in carrying out its statutory functions. The Commonwealth accepts no liability for any loss suffered as a result of reliance on this publication, including any errors or omissions therein. AUSTRAC recommends that independent professional advice be sought. The information contained herein is current as at the date of this document.