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Timor Financial Intelligence Units Take Major Leap Forward

Strengthening the Fight Against Financial Crime

Dili, Timor-Leste - In a significant move to strengthen its fight against financial crime, Timor-Leste joined the Asia-Pacific Group on Money Laundering (APG) in July 2008. Since then, the country has been working diligently to develop its anti-money laundering and combating the financing of terrorism system.

Enacting Laws for Financial Transparency

In recent years, Timor-Leste has enacted laws aimed at tackling money laundering and terrorist financing, a crucial step towards enhancing financial transparency and stability. These efforts include:

• Establishing the country’s Financial Intelligence Unit, Unidade de Informação Financiera Timor-Leste (UIFTL), in 2014
• Strengthening its anti-money laundering and combating the financing of terrorism systems

Mutual Evaluation Report Released

A mutual evaluation report on Timor-Leste’s anti-money laundering and combating the financing of terrorism systems was conducted in 2012, with the final report adopted by authorities in July of that year. The comprehensive document is now available online for public review.

This article highlights the significant progress made by Timor-Leste in strengthening its financial intelligence units and combating financial crime. With the establishment of its Financial Intelligence Unit and enactment of laws aimed at tackling money laundering and terrorist financing, the country is taking a major leap forward towards enhancing financial transparency and stability.