Financial Intelligence Unit

The Financial Transactions and Reports Analysis Center of Afghanistan (FinTRACA) was established as a Financial Intelligence Unit (FIU) under the Anti Money Laundering and Proceeds of Crime Law passed by decree late in 2004. The main purpose of this law is to protect the integrity of the Afghan financial system and to gain compliance with international treaties and conventions. The Financial Intelligence Unit is a semi-independent body that is administratively housed within the Central Bank of Afghanistan (Da Afghanistan Bank).The main objective of FinTRACA is to deny the use of the Afghan financial system to those who obtained funds as the result of illegal activity, and to those who would use it to support terrorist activities.

Objectives:

The main objective of FinTRACA is to deny the use of the Afghani financial system to those who obtained funds as the result of illegal activity, and to those who would use it to support terrorist activities. In so doing, FinTRACA will make a significant contribution to the overall integrity of the Afghan financial environment, the ability of the Afghan financial system to integrate with the global financial system, and to future economic growth, investment, and prosperity in Afghanistan.

FinTRACA Functions

In order to meet its objectives, the FinTRACA collects and analyzes information from a variety of sources. These sources include entities with legal obligations to submit reports to the FinTRACA when a suspicious activity is detected, as well as reports of cash transactions above a threshold amount specified by regulation. Also, FinTRACA has access to all related Afghani government information and databases. When the analysis of this information supports the supposition of illegal use of the financial system, the FinTRACA works closely with law enforcement to investigate and prosecute the illegal activity. FinTRACA also cooperates internationally in support of its own analyses and investigations and to support the analyses and investigations of foreign counterparts, to the extent allowed by law. Other functions include training of those entities with legal obligations to report information, development of laws and regulations to support national-level AML objectives, and international and regional cooperation in the development of AML typologies and countermeasures.

Security:

The FIU recognizes the important role it plays as an independent intermediary between reporting entities and law enforcement. It rigorously applies its legal obligations to protect the sources and confidentiality of information received, and to use information received only for the specific purposes allowed under the law.

Sections:

Having four main sections:

a. Admin and Info Technology

b. Analysis and Liaison

c. Compliance

d. Regional Section

Having a total of 34 personnel Led by director general, deputy director and four section managers

For further information please click on http://www.fintraca.gov.af/

 

The Financial Transactions and Reports Analysis Center of Afghanistan (FinTRACA) was established as a Financial Intelligence Unit (FIU) under the Anti Money Laundering and Proceeds of Crime Law passed by decree late in 2004. The main purpose of this law is to protect the integrity of the Afghan financial system and to gain compliance with international treaties and conventions. The Financial Intelligence Unit is a semi-independent body that is administratively housed within the Central Bank of Afghanistan (Da Afghanistan Bank).The main objective of FinTRACA is to deny the use of the Afghan financial system to those who obtained funds as the result of illegal activity, and to those who would use it to support terrorist activities.

Objectives:

The main objective of FinTRACA is to deny the use of the Afghani financial system to those who obtained funds as the result of illegal activity, and to those who would use it to support terrorist activities. In so doing, FinTRACA will make a significant contribution to the overall integrity of the Afghan financial environment, the ability of the Afghan financial system to integrate with the global financial system, and to future economic growth, investment, and prosperity in Afghanistan.

FinTRACA Functions

In order to meet its objectives, the FinTRACA collects and analyzes information from a variety of sources. These sources include entities with legal obligations to submit reports to the FinTRACA when a suspicious activity is detected, as well as reports of cash transactions above a threshold amount specified by regulation. Also, FinTRACA has access to all related Afghani government information and databases. When the analysis of this information supports the supposition of illegal use of the financial system, the FinTRACA works closely with law enforcement to investigate and prosecute the illegal activity. FinTRACA also cooperates internationally in support of its own analyses and investigations and to support the analyses and investigations of foreign counterparts, to the extent allowed by law. Other functions include training of those entities with legal obligations to report information, development of laws and regulations to support national-level AML objectives, and international and regional cooperation in the development of AML typologies and countermeasures.

Security:

The FIU recognizes the important role it plays as an independent intermediary between reporting entities and law enforcement. It rigorously applies its legal obligations to protect the sources and confidentiality of information received, and to use information received only for the specific purposes allowed under the law.

Sections:

Having four main sections:

a. Admin and Info Technology

b. Analysis and Liaison

c. Compliance

d. Regional Section

Having a total of 34 personnel Led by director general, deputy director and four section managers

For further information please click on http://www.fintraca.gov.af/