FINANCIAL

INTELLIGENCE
By Urain.B
INTRODUCTION OF FINANCIAL INTELLIGENCE

 Financial intelligence (FININT) is the gathering of information

about the financial affairs of entities of interest, to understand their
nature and capabilities, and predict their intentions.
 One of the main purposes of financial intelligence is to identify
financial transactions that may involve tax evasion, money
laundering or some other criminal activity.
 FININT may also be involved in identifying financing of criminal
and terrorist organisations.
 Financial intelligence can be broken down into two main
area, collection andanalysis.
 Collection is normally done by a government agency,
known as a financial intelligence organisation or Financial
Intelligence Unit (FIU).
 The agency will collect raw transactional information and
Suspicious activity reports (SAR) usually provided by
banks and other entities as part of regulatory
requirements.
COLLECTION

 FININT involves scrutinizing a large volume of transactional data,

usually provided by banks and other entities as part of regulatory
requirements.
 Many industrialized countries have regulatory reporting
requirements for its financial organisations.
 It may be possible for the FININT organization to obtain access to
raw data at a financial organization. From a legal standpoint, this
type of collection can be quite complex.
ANALYSIS

 Identifying high-risk housing tenants on the basis of past

rental histories.
 Detecting tax payers trying to avoid their fiduciary
obligations by moving wealth surreptitiously out of a tax-
levying jurisdiction.
 Checking to see if a corrupt individual has had any
sudden and unexplained windfalls.
 Detecting relationships between terrorist cells through
remittances.
 FINANCIAL INTELLIGENCEN UNITS

According to the Egmont Group of Financial Intelligence

Units, financial intelligence units (FIUs) are national centres
which collect information on suspicious or unusual financial
activity from the financial industry and other entities
According to the Egmont Group of Financial Intelligence
Units, financial intelligence units (FIUs) are national centres
which collect information on suspicious or unusual financial
activity from the financial industry and other entities
 LIST OF FINANCIAL INTELLIGENCE UNITS

There are 159 financial intelligence units in the world

1. Argentina – Unidad de Inteligencia Financiera
2. Aruba - Financial Intelligence Unit-Aruba (FIU-Aruba)
3. Australia – Australian Transaction Reports and Analysis Centre (AUSTRAC)
4. Austria – Geldwäschemeldestelle im Bundeskriminalamt (A-FIU)
5. Brazil – COAF Conselho de Controle de Atividade Financeira
6. Canada – Financial Transactions and Reports Analysis Centre of Canada (FINTRAC)
7. Cyprus - Unit for Combating Money Laundering (MOKAS)
8. France – Tracfin
9. Germany – Zentralstelle für Finanztransaktionsuntersuchungen
10. India – Financial Intelligence Unit (India) (FIU-IND)[3]
11. Indonesia - Indonesian Financial Transaction Reports and Analysis Center (PPATK)
12. Ireland – Garda Financial Intelligence Unit (GNECB FIU)
RANKING OF FINANCIAL INTELLIGENCE UNIT

Rank City Country or Territory Rating

1. London United Kingdom 960

2. New York United States 957
3. Singapore Singapore 956
4. Hong Kong Hong Kong 948
5. Amsterdam Netherlands 947
6. Zurich Switzerland 944
7. Tokyo Japan 941
8. Paris France 935
9. Luxembourg Luxembourg 932
10. Munich German 929
FINANCIAL INTELLIGENCE UNIT- INDIA
 FINANCIAL INTELLIGENCE UNIT-INDIA

 Formed: November 18, 2004; 18 years ago

 Type: Financial Intelligence Unit
 Jurisdiction: Government of India
 Status: Active
 Headquarters: Connaught Place, New Delhi
 Employees: 75
 Minister responsible: Nirmala Sitharaman, Minister of Finance
 Agency executive: Pankaj Kumar Mishra, IRS-IT (1989), Director
 Parent department: Department of Revenue
 Ranking of FIU: Indian unit holds 59th position