Role of the Financial Intelligence Unit in Implementing an Effective

Anti-Money Laundering (AML) Framework

Jafar Sadat, Da Afghanistan BankGeneral Director, Financial Transactions and

Reports Analysis Center of Afghanistan(FinTRACA)

Financial Intelligence Unit Functions

• Core Functions– Receive Reports and Information

• Report of any cash transaction designated by DAB regulation• Reports of suspicious transactions or attempted transactions• Receive information from Afghani government sources• Receive information from foreign government sources

– Analyze Reports and Information• Match with other government data• Match against patterns, lists, and indicators• Identify trends• Identify new patterns and indicators

– Disseminate Information and Analysis• Transmit analysis (but not original reports) to prosecutors when a

suspicion is confirmed• Transmit information to competent foreign bodies upon receipt of

valid request

Financial Intelligence Unit Functions

• Other Functions– Training

• Training of reporting entities• Training of FIU staff• Training of DAB and other Government Staff

– International cooperation• Cooperation in the development of standards• Exchange of staff• Development of Typologies

– Improvement of AML Law and Regulations• May propose new laws and regulations• May propose improvements to laws and regulations

– Working with non-regulated reporting entities

Main Featuresof the Financial Intelligence Unit

• Confidentiality– Information received by the FIU may only be used for

purposes specifically authorized by law– Employees of the FIU are required to respect this

confidence even after their employment with the FIU ends

• Security– Physical and electronic protection of information

received against unauthorized access.– Security of communication channels with reporting

entities– The identify of the reporter will only be released by

court order

Structure of FIU

• Independent Office within DAB

• Reports to DAB Executive Council

• Budget approved by the DAB Supreme Council

• General Director appointed by DAB Supreme Council

• General Director has the power to hire and fire staff

المللی بین مفهوم

• FinTRACA is one of nearly 100 financial intelligence units around.

• These units belong to various organizations that facilitate cooperation and information sharing

• FinTRACA has joined one such organization known as the Asia Pacific Group, which includes most South Asian Countries

• When its capabilities are more developed, FinTRACA will apply for membership to the Egmont group of Financial Intelligence Units

FIU Legal PowersPower to:• Request available information from any government source• Request information from foreign government sources (with some

limitations)• Provide information to foreign governments• Request and receive information from reporting entities (without

charge) for the purpose of exercising legal functions• Examine records and business relations of non-regulated reporting

entities• May enter premises of reporting entities for the purpose of ensuring

compliance• Order the freezing transactions for a period of up to seven days

Contact Information

• To Send Reports – E-mail Reports@Fintraca.gov.af– Public key available for secure transmission

• To Receive Information– E-mail Info@Fintraca.gov.af

• Web Site with forms and information– http://www.fintraca.gov.af