Intelligence
Intelligence Analysis
The Financial Intelligence and Analysis Division’s core function is to receive and analyse data and provide actionable intelligence to competent authorities to assist them with combating ML/ TF/PF activities. In addition, the Division handles requests for information from foreign FIUs and competent authorities.
By thoroughly analysing data in the form of suspicious transaction reports (STRs), suspicious activity reports (SARs), and other reports received from various sources, the Division may uncover information related to subjects of interest, including links between individuals, businesses, and assets.
This information is further used to establish potential associations with ML/TF/PF activities and other financial crimes.
The FIC produces both operational and strategic financial intelligence, as required by Recommendation 29 of the FATF International Standards in respect of combating ML/TF/ PF activities, commonly known as the FATF Recommendations. The collection and analysis of information from various sources supports the mandate of the FIA.
To carry out such functions, the Intelligence Analysis section is split into three main teams, as outlined below.
Intelligence Analysis Team
Processing & Prioritisation Team
The Processing & Prioritisation Team is responsible for the preliminary handling of all incoming reports and intelligence. This allows the Analysts to prioritise the cases and distribute accordingly to other sections within the Intelligence Analysis Section.
Operations Team
The Operational Teams are split into a further three teams: two Operational teams and a Special Operations team. The Special Operations team is responsible for carrying out the prioritisation of reports relating solely to suspected tax crimes or funding of terrorism and the in-depth analysis of those reports which are deemed to require further in-depth analysis. Whereas the operational teams conduct in-depth analysis of all the other reports escalated from the Processing & Prioritisation Team which relate to any other predicate offence.
Strategic Analysis & International Co-operation Team
The International Cooperation Team handles all incoming requests for information from domestic authorities as well as the FIAU’s foreign counterparts. The Strategic Analysis Team also conducts periodic strategic analysis to identify areas of risk, trends, vulnerabilities, and typologies within various sectors.
Additionally, the team is also responsible for conducting tactical analysis on data subsets to identify specific patterns and trends for escalation, which helps the FIAU to not only depend on the received suspicious reports, but also to be proactive in the fight against money laundering and funding of terrorism
