Financial Crime Investigation Techniques in Philippines Undergo Training to Enhance Capabilities
Financial investigations have become a crucial tool in disrupting criminal networks’ ability to launder ill-gotten gains, transfer funds, and conceal illicit profits. To effectively conduct such probes, law enforcement agencies, prosecutors, and financial intelligence units must collaborate closely, leveraging technical expertise and a deep understanding of evolving criminal tactics.
United Nations Office on Drugs and Crime (UNODC) Conducts Training Sessions
The UNODC recently conducted two trainings on financial crime investigations in the Philippines. The sessions aimed to strengthen cooperation between law enforcement agencies, enhance the capabilities of investigators and prosecutors, and explore schemes used to conceal criminal proceeds.
Multi-Agency Events
The events brought together participants from various government agencies, including:
- Office of the Ombudsman
- Department of Justice’s National Prosecution Service
- National Bureau of Investigation
- Anti-Money Laundering Council
- Securities and Exchange Commission’s Enforcement and Investor Protection Division
During the sessions, attendees discussed strategies for identifying bid rigging schemes, operational steps for building an investigation plan, and asset tracing techniques.
Group Activities
Group activities focused on ways in which criminal networks move assets around the world using:
- Offshore financial institutions
- Corporate vehicles
- Intermediaries
- Laundering techniques
Attendees also explored methods of identifying and tracing illegal assets, as well as building cases against bribery and money laundering.
Importance of Financial Data Analysis
To effectively secure evidence that can be used in court, investigators must possess a thorough understanding of financial data analysis methods and asset tracing techniques. These skills are essential for uncovering complex financial schemes and tracking the flow of illicit funds.
Funding
The trainings were part of activities funded by the Ministry of Justice of the Government of the Republic of Korea.
Additional Resources
Footage from the events is available online, along with written summaries. These resources provide valuable insights into the techniques used to combat financial crime in the Philippines and can be used as a reference for investigators and prosecutors around the world.