Anguilla’s Financial Intelligence Unit Evolves with Hybrid Model, Boosting Crime Prevention

Anguilla’s Financial Intelligence Unit (FIU) has adopted a hybrid model since its implementation in 2000, reinforcing the island’s commitment to financial crime prevention. With the new Financial Intelligence Unit Act, 2020, the FIU for Anguilla is now an official Department of the Government. This status comes with mandated responsibilities for investigating, detecting, preventing, and controlling financial crimes and related matters.

The Hybrid Model: Blending Law Enforcement and Administration

The hybrid model integrates elements of the judicial, law enforcement, and administrative models. It acts as a crucial intermediary and connector between legal and law enforcement authorities.

Anguilla’s FIU: A Unique Hybrid Unit

Anguilla’s FIU has adopted this hybrid model, merging the law enforcement and administrative approaches.

The Law Enforcement Model: A Stronger Approach to Anti-Money Laundering

The law enforcement model plays a significant role in strengthening anti-money laundering measures by integrating with existing law enforcement structures. It allows various law enforcement or judicial authorities to collaborate effectively in probing money laundering allegations.

The Administrative Model: Centralizing Financial Intelligence

The administrative model brings together a centralized, independent group that collects, processes, and analyzes financial information from the sector. This division subsequently transmits disclosures to judicial or law enforcement bodies for pursuing prosecutions, functioning as a crucial “buffer” between the financial sector and the law enforcement community.

Two Distinct Divisions: Intelligence and Investigations

The Anguilla FIU will now function as a unified hybrid unit with two distinct divisions:

Financial Intelligence Unit – Intelligence Division

This division focuses on intelligence gathering, analysis, and dissemination. It plays a vital role in providing crucial insights to the Anguilla’s FIU and other relevant authorities to investigate and prevent potential financial crimes.

Financial Intelligence Unit – Investigations Division

The primary goal of the Financial Intelligence Unit – Investigations Division is to investigate significant financial crimes, including money laundering, terrorist financing, asset recovery, cash seizure, and forfeiture. It also handles mutual legal requests pertaining to money laundering and terrorist financing.