Financial Crime World

Tunisia Moves to Strengthen AML CFT Regulations Amid Growing Concerns Over Terrorist Financing

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Tunisia has launched an ambitious program aimed at improving its capacity to combat terrorist financing by enhancing the ability of its Financial Intelligence Unit (FIU) and financial sector regulators to identify, report, and deter such activity. This initiative is being implemented in collaboration with the Foundation for Sustainable Development (FSVC).

Strengthening Anti-Money Laundering and Combating the Financing of Terrorism Regulations

The program focuses on bolstering Tunisia’s anti-money laundering (AML) and combating the financing of terrorism (CFT) regulations and supervision capabilities. The goal is to ensure that the country’s financial sector is better equipped to combat terrorist financing and other illicit activities.

Enhancing Financial Intelligence Unit Capacity

At the heart of the initiative is a focus on bolstering the capacity of Tunisia’s FIU to utilize international tools and standards, as well as implement an electronic platform for organizing and analyzing financial intelligence. This will enable the FIU to:

  • Process suspicious transaction reports more effectively
  • Analyze terrorist financing typologies
  • Facilitate the exchange of information with reporting entities, law enforcement agencies, and prosecutors

Strengthening Supervision and Examination Capabilities

In addition, FSVC is working closely with all financial regulatory institutions in Tunisia to help draft or update their AML/CFT regulations. The organization is also providing training to supervisory staff at these institutions on the use of AML/CFT examination tools and procedures to conduct thorough examinations.

Key Objectives

  • Enhance the capacity of Tunisia’s FIU to utilize international tools and standards
  • Implement an electronic platform for organizing and analyzing financial intelligence
  • Strengthen supervision and examination capabilities of financial regulatory institutions in Tunisia
  • Improve the ability of financial sector regulators to identify, report, and deter terrorist financing activity