Resource > Glossary >
Financial Intelligence Unit (FIU)
Updated on:
March 28, 2024

Financial Intelligence Unit (FIU)

A Financial Intelligence Unit (FIU) is a government agency responsible for collecting, analysing, and disseminating financial intelligence information to prevent criminal manipulation of finance systems, such as money laundering and terrorist financing.

  • Financial Intelligence Units (FIUs) collect and analyse financial information to detect and prevent financial crimes.
  • They share information with domestic and foreign law enforcement and intelligence agencies to combat criminal activity.
  • FIUs also play a critical role in implementing international anti-money laundering (AML) and counter-terrorist financing (CTF) standards.

About FullCircl

FullCircl is a Customer Lifecycle Intelligence (CLI) platform that helps B2B companies in financially regulated industries do better business, faster. Its solutions allow front and middle office teams to win the right customers, accelerate onboarding and keep them for life.

FullCircl has merged with ID&V platform provider W2 Global Data to provide regulated entities with the next generation of regulatory compliance.

Financial Intelligence Units were established in the 1980s as a response to the increasing global concern over money laundering and terrorist financing activities. Today, they operate in countries around the world, and their role has expanded to include other financial crimes, such as tax evasion and fraud. FIUs receive information from various sources, including financial institutions, law enforcement agencies, and other government bodies, and analyse it to identify suspicious transactions or patterns of behaviour.

FIUs play an essential role in combating financial crimes, as they provide intelligence and analysis to support law enforcement and other agencies in their investigations. They also assist in building and strengthening relationships between countries in the fight against financial crime. FIUs work closely with other agencies, such as the Financial Action Task Force (FATF), to develop international standards and promote cooperation among countries.

FIUs have access to vast amounts of financial data, which they can use to identify and track criminal activities. They use sophisticated analytical tools to detect unusual patterns or behaviours, which may indicate money laundering or terrorist financing. FIUs can also share information with other domestic and foreign agencies, which helps to build a broader picture of criminal activity.

In summary, FIUs play a critical role in the global fight against financial crimes. They are responsible for collecting and analysing financial information, sharing intelligence with law enforcement agencies and promoting cooperation among countries. Through their work, FIUs help to detect and prevent financial crimes, which can have a significant impact on national and international security.

Research and Insights