Minister of Finance Appoints New Deputy Director for Financial Intelligence Unit
The Minister of Finance has appointed a new Deputy Director for the Financial Intelligence Unit (FIU) effective since 2005. This appointment is part of the FIU’s efforts to continue providing effective and efficient services in combating money laundering and terrorist financing.
Organizational Structure
The FIU boasts a complement of permanent staff, including two public officers seconded from the Government’s policy on the secondment of public officers to quasi-government agencies. During 2020, two public officers continued their secondments to the FIU, serving as Human Resources Manager and Executive Assistant to the Director.
Additionally, the Unit has benefited from the services of a member of the Government’s National Job Creation & Skills Enhancement Programme (nJCseP), who functioned as Receptionist. Furthermore, two Police officers were assigned to the FIU by the Commissioner of Police after consultation with the Director, serving in capacities such as Assistant Legal Counsel and Analyst.
Organisational Changes
In 2020, the FIU underwent some organisational changes, including the establishment of a Registry section responsible for maintaining case files. This individual serves as custodian of all files and is responsible for ensuring their security and confidentiality.
Training and Development
The FIU places great emphasis on training and development to ensure its staff are equipped with the necessary skills and knowledge to effectively carry out their duties. In 2020, the Unit participated in several training programs, including those offered by:
- The egmont Group
- United Nations Office on Drugs and Crime (UNODC)
- ManchesterCF Financial Intelligence Institution
The FIU also took advantage of online training opportunities during the pandemic, with staff members completing modules in areas such as:
- Fundamental Anti-Money Laundering
- Critical Thinking
- Report Writing
- Corruption
- And more
Ten staff members obtained the Financial Intelligence Specialist (FIS) designation through a joint program offered by ManchesterCF and the University of New Haven.
Cooperation and Collaboration
The FIU remains committed to cooperation and collaboration with international partners to combat money laundering and terrorist financing. In 2020, the Unit continued its membership in the egmont Group, an informal network of Financial Intelligence Units formed in 1995. The FIU also strengthened its relationships with its counterpart FIUs through the egmont Secure Web (esW) platform.
Conclusion
The Minister’s appointment of a new Deputy Director and the FIU’s continued efforts to improve its services demonstrate its commitment to effectively combating money laundering and terrorist financing, while also ensuring its staff are equipped with the necessary skills and knowledge to carry out their duties.