Portugal’s Financial Crimes Unit: Europol’s EFECC Tackles Economic Threats

In the heart of Portugal, a dedicated team at Europol’s European Financial and Economic Crime Centre (EFECC) is battling the growing threats to the economy and financial systems.

The Need for EFECC

EFECC was established in June 2020 in response to the increasing challenges posed by money laundering, corruption, counterfeiting, fraud, and tax fraud schemes that target individuals, countries, and corporations.

EFECC’s Role and Goals

The centre’s goal is to support law enforcement and relevant public authorities in their international financial crime investigations. EFECC aims to:

• Improve the recovery and prevention of financial and economic crimes
• Strengthen the European Union’s resilience against such illicit activities
• Enhance international cooperation and intelligence sharing between countries

Collaborative Efforts Against Money Laundering & Corruption

EFECC’s Portuguese investigators work closely with partners across Europe to dismantle transnational criminal networks.They focus on money laundering and corruption cases, which can harm both local and European economies and societal integrity.

• Contribute to the dismantling of criminal networks
• Recover stolen assets

Targeting Counterfeiting Schemes

EFECC also addresses counterfeiting schemes, which pose a significant threat to national and European economies. By collaborating, investigators can:

• Effectively identify and pursue those involved in illegal schemes
• Reduce the impact on local and European economies

Cross-Border Collaboration

EFECC’s work extends beyond Portugal, with investigators collaborating on cases that span multiple countries. This collaboration enables more effective investigation and prosecution of complex financial crimes.

Portugal’s Role in Europe’s Financial Crime Fight

As Portugal’s representative in EFECC, investigators are at the forefront of the European Union’s efforts to combat financial and economic crimes. Their work:

• Contributes to the safety and security of Portugal
• Enhances Europe’s ability to counteract these threats

Europol’s Commitment to Combating Financial & Economic Crimes

EFECC reflects Europol’s commitment to addressing the evolving challenges presented by financial and economic crimes. With its focus on international cooperation, intelligence sharing, and operational support, EFECC is an essential component of Europol’s broader efforts to enhance the EU’s capacity to combat crime and protect its citizens.