Financial Crime World

Guinea Takes Step Forward in Money Laundering Prevention

The Financial Intelligence Unit (FIU) has been a leading force in combating financial crimes in Guinea since its establishment in 2004 under the Money Laundering Prevention Act of 2000. Although the earlier act was repealed and replaced by the Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Act No. 13 of 2009, the FIU’s core functions remain steadfast in their mission to prevent illicit activities.

Key Responsibilities

The FIU is responsible for:

  • Requesting, receiving, analyzing, and disseminating information on suspicious transaction reports and other intelligence related to:
    • Money laundering
    • Terrorist financing
    • The proceeds of crime (as per section 9(1) of the AML/CFT Act)

This critical role enables the unit to stay one step ahead of criminal networks and protect Guinea’s financial system from abuse.