Financial Crime World

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ANGUILLA FINANCIAL CRIME INVESTIGATION TECHNIQUES GET BOOST WITH HYBRID MODEL IMPLEMENTATION

In a move aimed at strengthening its fight against financial crimes, Anguilla has formalized its Financial Intelligence Unit as a department of the government. The unit is responsible for investigating, detecting, preventing and controlling financial crimes, and has adopted a hybrid model that combines elements of law enforcement, judicial, and administrative models.

The New Hybrid Model

The new Financial Intelligence Unit Act, 2020, has enabled the unit to operate more effectively by serving as a disclosure intermediary and link between judicial and law enforcement authorities. The hybrid model, which is a combination of the law enforcement and administrative models, aims to provide a more efficient and effective way of sharing information and coordinating efforts to combat financial crimes.

Strengths of the Hybrid Model

  • Combines elements of law enforcement, judicial, and administrative models
  • Provides a more efficient and effective way of sharing information and coordinating efforts
  • Allows for anti-money laundering measures to be implemented alongside existing law enforcement systems

The Financial Intelligence Unit in Anguilla

The Financial Intelligence Unit in Anguilla has adopted this hybrid approach to leverage the strengths of each model. The unit operates with two distinct divisions:

Financial Intelligence Unit - Intelligence Division

  • Responsible for gathering and analyzing information on financial crimes
  • Conducts research and analysis to identify patterns and trends in financial crimes

Financial Intelligence Unit - Investigations Division

  • Focused on conducting in-depth investigations into serious financial crimes such as money laundering, terrorist financing, asset recovery, cash seizure, and forfeiture
  • Works closely with the Intelligence Division to gather information and analyze intelligence

Director’s Role

The Director of the Financial Intelligence Unit supervises both divisions, which work together to gather information, analyze intelligence, and conduct investigations into serious financial crimes.