FIU Annual Report 2016    FIU Advisory 0002-2017    FIU Advisory 0003-2017    Changes to the Consolidated United Nations Security Council Sanctions List

Function of the FIU

Pursuant of section 7 (1) of the Financial Intelligence (FIU) Act 2003:

  • Investigate and prosecute financial crimes;
  • Perform the functions of the Supervisory Authority under the Money Laundering & Terrorism (Prevention) Act 2008;
  • Ensure coordination between law enforcement agencies, Government departments, regulatory authorities, private institutions and members of relevant professions in evolving methods and policies to prevent and suppress financial crimes;
  • Take such measures as may be necessary to counteract financial crimes;
  • Share information and cooperate with foreign financial intelligence units in the fight against financial crimes;
  • Inform and educate the public and financial and business entities of their obligations under measures that have been or might be taken to detect,prevent and deter the commission of financial crimes;
  • Deal with all requests for legal assistance from foreign countries, law enforcement agencies and other regulatory bodies relating to financial crimes; and
  • Perform such other functions related to the above as may be assigned by the Minister.

What Makes Us Different

FIU MODELS

Judicial – the process of analyzing, investigating and prosecuting matters relating to money laundering and financial terrorism.

Administrative – analyzing STR’s and disseminating relevant information to law enforcement agencies. E.g. Bulgaria (FIU) and USA (FinCEN).

Law Enforcement – analyzing and investigating STRs.

Hybrid/Mixed Model – combination of all modules.

Belize’s Financial Intelligence Unit (FIU) is a hybrid/mixed model in that it performs the judicial, administrative and enforcement functions.