Financial Crime World

Palauan Officials Receive Training on Financial Crime Investigation Methods from IRS- CI

Strengthening Financial Crime Investigation Capabilities in Palau

Washington D.C., June 13, 2022 - In a move to enhance financial crime investigation capabilities in Palau, the Internal Revenue Service’s Criminal Investigation (IRS- CI) has delivered a five-day training on financial investigative techniques to approximately 30 officials from various government agencies. The training aimed at equipping participants with skills to trace money tied to criminal activity, identify assets for confiscation, and calculate illegal proceeds.

Interactive Training Program

The training program was highly interactive and participant-driven, with IRS- CI instructors acting as facilitators to draw on the knowledge of the trainees and apply it to financial investigations. Participants included:

  • Prosecutors
  • Criminal investigators
  • Tax auditors
  • Intelligence analysts
  • And more from agencies such as:
    • Financial Intelligence Unit
    • Financial Institutions Commission
    • Bureau of Public Safety
    • Office of the Attorney General
    • Bureau of Customs and Border Protection
    • Bureau of Revenue and Taxation
    • National Security Coordination Office
    • Office of the Special Prosecutor
    • Foreign Investment Board

Partnership with JIATF West

The training was coordinated through the assistance of Joint Interagency Task Force West (JIATF West), a US-based counter-drug and counter-transnational crime task force. JIATF West has a long history of partnering with IRS- CI to deliver this type of training in line with the recommendations of the Financial Action Task Force, a global money laundering and terrorist financing watchdog.

Enhancing Investigative Techniques

According to IRS- CI Deputy Chief James Robnett, “Many countries serve as financial hubs, and recent changes to Palau’s new e-residency law are designed to attract corporations and other entities to the country. Trainings like this one arm Palauan officials with investigative techniques to protect their country’s financial system, as well as the global economy, from criminal activity.”

IRS- CI’s Expertise

IRS- CI is the criminal investigative arm of the IRS responsible for conducting financial crime investigations, including:

  • Tax fraud
  • Narcotics trafficking
  • Money-laundering
  • Public corruption
  • Healthcare fraud
  • Identity theft
    • And more

The agency boasts a nearly 90 percent federal conviction rate and has 20 field offices located across the US and 12 attaché posts abroad.

Training Outcomes

With this training, Palauan officials are now better equipped to combat financial crime and protect their country’s financial system, as well as contribute to the global effort to prevent money laundering and terrorist financing.