FIU Leads Inter-Agency Efforts In Fighting Financial Crimes

The Financial Intelligence Unit (FIU) of the Government of Liberia has succeeded in mobilizing other concerned State institutions into a partnership intended to promote the sharing of intelligence and assist in identifying activities that undermine the country’s economy.The inter-agency cooperation would entail the active participation of Liberia Revenue Authority, Liberia Anti-Corruption Commission, Ministry of Justice, Liberia National Police, Drug Enforcement Agency, Liberia Immigration Service, Central Bank of Liberia, Ministry of Finance and National Security Agency, among others, “to save the day,” said FIU chief Alex Cuffy.
The FIU leads the charge in those institutions’ efforts to combat “the most prevalent offenses” such as corruption, terrorist financing, money laundering, tax evasion, theft of property, currency counterfeiting, smuggling, and trafficking in drug and persons, said Cuffy.
These acts are not only criminal under the laws of Liberia; they also contravene international statutes, conventions and treaties.
The FIU is clothed with the authority to analyze reports and information of suspected criminal acts, and prepares and eventually disseminates financial intelligence and other reports to law enforcement and justice system for in-depth investigation and prosecution.
It also shares information with lawmakers, regulatory bodies and FUIs of other countries in a bid to curtail the flow of illegal activities by taking the necessary actions.
Moreover, a weekly 45-minute talk show dubbed “FIU Talk” on state-radio ELBC, which starts this Tuesday, September 18, was launched as a platform for the collaborating institutions to discuss issues such as the value of financial intelligence.
The show will also discuss and the role of the FIU and all other stakeholders, and how does the government of Liberia generate revenue; how and why it loses revenue, and how does it prevent the loss of revenue in the natural resources industry.
The FIU serves as the national center for receipt, analysis and dissemination of suspicious transactions, reports and other information about money laundering, terrorism financing and associated offenses.
It was established by an Act of Legislature in 2012, approved in 2013 and put into motion in 2014 to operate, having been signed into law by the Executive.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s