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Financial Intelligence Unit (FIU)

Overview

An FIU is a national agency that receives, analyzes, and disseminates financial intelligence (SAR/STRs, cross-border reports) to combat money laundering and terrorist financing. Examples include FinCEN (US), FIU-IND (India), and NCA-UK's UKFIU. FIUs issue guidance, typologies, and feedback that inform institutional controls and training.

They collaborate internationally via the Egmont Group, enabling cross-border intelligence sharing. Regulated entities must submit timely, high-quality reports with clear narratives and supporting data. FIUs evaluate effectiveness, identify emerging threats, and coordinate with law enforcement. Strong relationships between institutions and FIUs improve outcomes, reduce systemic risk, and enhance the credibility of national AML regimes.

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Monitor transactions in real-time and analyse past behaviour to identify suspicious activities and ensure regulatory compliance across the user journey.

Criminal Screening

Perform thorough background checks and verify criminal records to maintain compliance and strengthen onboarding security.

Related Terms

Suspicious Activity/Transaction Report (SAR/STR)

Red Flags

Case Management

FAQ

What makes a good SAR?

Clear narrative, who/what/when/why, money flow details, linked accounts, and red flags tied to typologies. Attach supporting data when permitted.

How do FIUs use reports?

“They detect patterns, prioritize investigations, and share intelligence domestically and abroad. Feedback loops help institutions refine monitoring scenarios.

Are all FIUs the same?

Mandates vary by country, but core functions receiving, analyzing, disseminating are consistent, with Egmont Group enabling secure international exchange.

What if we file late?

Late or low-quality filings can trigger supervisory findings. Build SLAs, automation, and QA to ensure timeliness and completeness.