Birzeit Consulting
Your Choice of Fraud Prevention and Detection
Financial Intelligence Unit
Our team had international anti fraud and corruption experience with anti fraud government agencies in the following countries:
The United States, Albania, Argentina, Azerbaijan, Bermuda, Canada, Croatia, Denmark, the Republic of Georgia, Hong Kong, India, Ireland, Jamaica, Kuwait, Lebanon, Malaysia, Mexico, Morocco, Netherlands, Poland, Portugal, Russia, Singapore, South Africa, Trinidad and Tobago, United Kingdom, Zimbabwe, Australia, and China.
Financial Intelligence Unit (FIU): Challenges
The ability to closely monitor and analyze reporting volumes and trends is an important component of an FIU’s regulatory function. The operations of FIU’s are necessarily very IT based and this is becoming even more so as the volume and type of reports increases and FIUs take on regulatory functions.
Each FIU should have the ability to collect, (preferably by pre-formatted electronic means), collate, store and analyze large volumes of data in a timely manner. Additionally, an FIU must have the capacity to properly analyze data and develop cases for dissemination to investigation agencies.
An FIU receives data from financial institutions and other reporting entities in the form of:
- Cash Transaction Reports (CTR)
- Suspicious Transaction Reports (STR)
- Electronic Funds Transfer Reports (EFT – including International Funds Transfer Reports)
- List-based reports such as reports generated from lists of known terrorist identities.
For more information, please contact us.
