Financial Intelligence Unit Annual Report 2021
Acting for the Purposes of Information Collection, Analysis, and Intelligence Development
The Financial Analysis and Supervision Unit (FASU) has released its Annual Report for 2021, showcasing the unit’s efforts in collecting, analyzing, and disseminating financial intelligence to support law enforcement agencies in their fight against financial crimes.
Intellectual Property Dissemination
In 2021, FASU disseminated two primary types of products: Intelligence Reports (IR) and bulk SMRs. However, due to the COVID-19 pandemic, no bulk SMR dissemination was made to domestic law enforcement agencies (LEAs) in 2021.
International Exchange
FASU continued to strengthen its international relationships by exchanging intelligence reports with foreign counterpart Financial Intelligence Units (FIUs). During the reporting period, FASU:
- Disseminated a total of four IRs to foreign FIUs
- Received six IRs from foreign FIUs
- Made eight requests for information from foreign FIUs and received five responses
Domestic Exchange
Domestically, FASU:
- Disseminated 10 IRs to LEAs
- Received eight requests for information from them
- Did not make any requests to domestic agencies for information in 2021
Information Collection and Requests
FASU made a total of 39 information requests to reporting entities during the year, which is a decline compared to previous years due to COVID-19 restrictions. Despite this reduction, reporting entities continued to provide necessary information for analysis and intelligence development.
Tables and Statistics
Table 1: Domestic Agencies Receiving FASU’s IRs and SMRs (2017-2021)
| Agency | Intelligence Reports | Bulk SMRs |
|---|---|---|
| Royal PNG Constabulary | 3 | 0 |
| Internal Revenue Commission | 2 | 0 |
| PNG Customs Services | 1 | 0 |
| Ombudsman Commission | 3 | 0 |
| Others | 1 | 0 |
| Total | 10 | 0 |
Table 2: Spontaneous Information Dissemination with Other FIUs (2017-2021)
| Year | Dissemination to Other FIUs | Dissemination received by FASU |
|---|---|---|
| 2017 | 0 | 0 |
| 2018 | 12 | 13 |
| 2019 | 3 | 1 |
| 2020 | 5 | 7 |
| 2021 | 4 | 6 |
Table 3: Information Exchange with Other FIUs (2018-2020)
| Foreign | Year | Number of requests made by FASU | Number of requests received by FASU |
|---|---|---|---|
| 2017 | 0 | 0 | |
| 2018 | 17 | 0 | |
| 2019 | 3 | 4 | |
| 2020 | 3 | 5 | |
| 2021 | 5 | 8 |
The report highlights FASU’s continued efforts in international cooperation and outreach, resulting in an increase in the number of requests made and received by the unit over the last five years.