Financial Intelligence Unit (FIU) Reports on International Cooperation and Information Exchange
Papua New Guinea’s Financial Intelligence Unit (FASU) has released its annual report for 2021, highlighting the unit’s efforts in international cooperation and information exchange.
International Cooperation
FASU disseminated two primary types of products: Intelligence Reports (IRs) and bulk SMRs. However, due to the COVID-19 pandemic, no bulk SMR disseminations were made to domestic law enforcement agencies (LEAs) in 2021.
International Exchange
- During the reporting period (January 1 to December 31, 2021), FASU disseminated a total of four IRs to foreign counterpart Financial Intelligence Units (FIUs).
- The unit also received six IRs from foreign counterpart FIUs.
- In addition, FASU received eight requests for information from foreign counterpart FIUs and made five requests for information to foreign counterpart FIUs.
Domestic Exchange
FASU disseminated a total of ten IRs to LEAs in 2021. The unit did not make any requests to domestic agencies for information but received eight requests from LEAs and processed and facilitated the production of information that were requested.
Spontaneous Information Dissemination
| Year | Number of IRs Disseminated | Number of IRs Received |
|---|---|---|
| 2017 | - | - |
| 2018 | - | - |
| 2019 | - | - |
| 2020 | - | - |
| 2021 | 4 | 6 |
Information Exchange with Other FIUs
| Year | Number of Requests Made | Number of Requests Received |
|---|---|---|
| 2017 | 0 | 4 |
| 2018 | 2 | 5 |
| 2019 | 3 | 6 |
| 2020 | 4 | 7 |
| 2021 | 5 | 8 |
Conclusion
FASU’s annual report for 2021 demonstrates the unit’s commitment to international cooperation and information exchange. Despite challenges posed by the COVID-19 pandemic, FASU continued to disseminate IRs and facilitate information exchange with other FIUs. The unit’s efforts aim to enhance financial intelligence and support law enforcement agencies in their investigations and prosecutions of financial crimes.
Note: This report highlights the Financial Intelligence Unit’s (FASU) efforts in international cooperation and information exchange during 2021, despite challenges posed by the COVID-19 pandemic.