Financial Crime World

International Cooperation Crucial in Combating Financial Crime

The United Nations Office on Drugs and Crime (UNODC) has partnered with Pakistan’s Financial Monitoring Unit (FMU) to organize a comprehensive workshop aimed at equipping law enforcement personnel with the necessary skills and tools to effectively respond to financial crimes.

Workshop Objectives

  • Equip law enforcement personnel with essential skills and tools to combat financial crimes
  • Explore various financial products and channels exploited by criminals and terrorists for money laundering and terrorist financing
  • Provide in-depth insights into drafting Mutual Legal Assistance (MLA) requests, utilizing documents obtained through MLA in investigations and prosecutions, and the pivotal role of the Central Authority (CA)
  • Introduce informal information sharing mechanisms between Financial Intelligence Units (FIUs)

Workshop Highlights

Key Topics Covered

  • Anti-Money Laundering (AML) and Counter-Terrorism Financing (CFT)
  • Compliance with the Anti-Terrorism Act (ATA) and AML Act
  • Reporting mechanisms such as Suspicious Transaction Reports (STRs) and Currency Transaction Reports (CTRs)
  • Proactive and reactive utilization of Financial Intelligence
  • Formal and informal methods for MLA requests
  • Domestic legal framework and procedures for creating MLA requests
  • Practical demonstration of the goAML system to enhance understanding

Informal Information Sharing

  • Exchanges between FIUs
  • Drafting informal cooperation requests between FIUs
  • Establishing feedback mechanisms for shared information

Workshop Outcomes

The workshop has empowered law enforcement personnel with the necessary skills and knowledge to effectively combat financial crime. The event’s outcomes are expected to have a significant impact on Pakistan’s efforts to curb financial crimes.

Quote from FMU Representative

“The workshop has empowered our law enforcement personnel with the necessary skills and knowledge to effectively combat financial crime,” said a representative from the FMU. “We look forward to continuing this international cooperation in our fight against money laundering and terrorist financing.”

Future Collaborations

The event’s success sets a precedent for future collaborations between the UNODC and FMU.

Follow-up Information

For more information, follow the UNODC Pakistan Twitter handle @UNODCPakistan, Facebook page @unodc.pakistan, or LinkedIn feed.