The guide covers the benefits and added value of cooperative mechanisms, such as an Informed investigative approach, enhanced quality of the financial institutions’ reporting of suspicious activities and cross-border picture of financial flows.
The guide outlines 3 different scenarios for collaboration between authorities and institutions:
➡️ As an umbrella term to describe diverse forms of working together;
➡️ On the initiative of investigative authorities such as identifying leads using FIs’ specialist skills; and
➡️ On the initiative of financial institutions such as engaging with authorities to improve strategic risk management processes.
✅ Financial Institutions can review the guide to gain insights into effective collaboration with investigative authorities, helping to enhance risk management, improve reporting quality, and strengthen financial crime detection.