The Financial Transactions and Reports Analysis Center of Afghanistan (FinTRACA) was established as a Financial Intelligence Unit (FIU) in 2006 under the Anti-Money Laundering and Proceeds of Crime Law (AML-PC law).
Based on the amended Anti-Money Laundering and Proceeds of Crime Law, the Financial Intelligence Unit is independent in its operations for the purpose of enforcing its powers, duties and functions, including full autonomy in decisions to receive, analyze and disseminate information related to ML and TF. FinTRACA is administratively housed within the Da Afghanistan Bank (the Central Bank of Afghanistan).
The mission statement of the unit is to deny the use of the Afghan financial institutions to those who obtained funds as the result of illegal activity, and to those who would use it to support terrorist activities and other crimes. FinTRACA, together with financial supervisors, law enforcement agencies and prosecutors, contributes to building and maintaining an environment in Afghanistan that is directed to identify and combat money laundering and terrorist financing activities. Attainment of this objective is of immense national value and importance as it fulfills Afghanistan’s international obligations to combat money laundering (ML) and terrorism financing (TF), and reflects Afghanistan’s contribution in the global AML/CFT regime. The successful fulfillment of Afghanistan’s international obligations will have a positive impact on Afghanistan’s relations with foreign countries and international organizations.
As the financial intelligence unit, FinTRACA mandate and statutory duties are to, receive, analyze and disseminate financial intelligence to Attorney General’s Office (AGO), law enforcement agencies, other relevant government bodies and international counterparts to assist combating money laundering and financing of terrorism.
FinTRACA is also required to analyze the data it has legal access to as per the provisions of the AML-PC law, in order to provide strategic intelligence including statistics, trends and typologies aimed to increase the awareness of ML/TF trends in Afghanistan among general public financial and non-financial institutions, international counterparts and relevant government agencies.
FinTRACA collects and analyzes information from a variety of sources, including financial and non-financial entities that are legally obliged to submit reports of suspicious transactions. These entities are also obliged to report cash transactions above a threshold amount specified by the regulatory framework. When a suspicion of illegal use of the financial system is detected by FinTRACA, a detailed analysis of the suspicious activity is provided to with law enforcement agencies and/or Attorney General’s Office to support their investigation of the illegal activity.
FinTRACA 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 received information only for the specific purposes allowed under the law.
FinTRACA also cooperates internationally in support of its own analysis and investigations and to support the analyses and investigations of foreign counterpart FIUs, by exchanging financial intelligence information with foreign FIUs to the extent allowed by legal framework. FinTRACA’s international cooperation mechanism is governed by MOUs signed with counterpart FIUs. Additionally FinTRACA also utilizes the Egmont Group of FIU’s Secure Web platform for exchange of financial intelligence information.
FinTRACA has a total of 68 personnel lead by Director General, two Deputy Director Generals and Six Section Directors which are consists of the following section directorates:
- Analysis Section Directorate
- Compliance Section Directorate
- Regional operations and non-banking financial institutions Section Directorate
- International Cooperation Section Directorate
- National cooperation and coordination Section Directorate
- Information Technology Section Directorate