Financial Crime World

Tanzania’s Financial Intelligence Unit Leads the Fight Against Money Laundering and Terrorism Financing

The Financial Intelligence Unit (FIU) of Tanzania has been established under section 4 of the Anti-Money Laundering Act (AMLA) of 2006 to combat the global crimes of money laundering and terrorist financing.

Mission and Functions

As an Extra-Ministerial Department under the Ministry of Finance, the FIU has been operational since September 2007. Its primary function is to receive suspicious transaction reports from reporting persons, analyze and disseminate intelligence to appropriate law enforcement agencies for investigation and further action. The unit plays a crucial role in maintaining the integrity of the economy and making Tanzania a good investment destination.

Key Responsibilities

  • Receive suspicious transaction reports from reporting persons
  • Analyze and disseminate intelligence to appropriate law enforcement agencies
  • Provide law enforcement agencies with intelligence
  • Network with other agencies fighting financial crimes

National Multi-Disciplinary Committee on Anti-Money Laundering

The FIU has established a National Multi-Disciplinary Committee on Anti-Money Laundering comprising members from both Tanzania mainland and Zanzibar. This committee plays an advisory role on AML/CTF issues in the country, helping the unit stay ahead of the curve in combating financial crimes.

Mission Statement

The FIU has vowed to lead the war against money laundering and financing of terrorism in Tanzania by:

  • Implementing the Anti-Money Laundering Act of 2006
  • Providing law enforcement agencies with intelligence
  • Networking with other agencies fighting financial crimes

Vision

The unit’s vision is to be a model Financial Intelligence Unit with state-of-the-art technology that will help establish and maintain an internationally compliant and effective anti-money laundering regime, providing a sound, dynamic and strong financial system for the promotion of social justice, political stability, and sustainable economic growth.