FIUs

FIUs, or financial intelligence units, are national or supranational agencies tasked with receiving, analyzing, and disseminating financial information to combat money laundering and terrorist financing. They operate under a legal framework that requires reporting entities—banks, securities dealers, casinos, lawyers, real estate agents, and others—to submit suspicious activity reports and large transactions reports.

Upon receipt, the FIU analyzes patterns, conducts linkages across accounts and jurisdictions, and, when warranted, disseminates intelligence to law enforcement, regulators, or prosecutors to support investigations and prosecutions. FIUs also produce strategic risk analyses, publish general guidance, and help financial institutions strengthen AML/CFT controls. Many FIUs maintain data protection and confidentiality regimes and operate with a degree of operational independence, while remaining accountable to government bodies and oversight mechanisms.

Most FIUs participate in international cooperation networks, notably the Egmont Group, which provides secure channels for sharing information with other FIUs under strict privacy safeguards. FIUs interact with banks and non-financial designated professionals, reflecting a risk-based approach that prioritizes high-risk sectors and emerging trends. Structural models vary: some FIUs are housed within a central bank or treasury; others are under a separate anti-money-laundering or law enforcement agency.

Common examples include the United States FinCEN, Canada's FinTRAC, France's TRACFIN, and Australia’s AUSTRAC, among others. The effectiveness of FIUs depends on information quality, interagency collaboration, resource levels, and robust privacy protections to maintain public trust.