CLOSE RELATIONSHIP BETWEEN FIUS AND REPORTERS IS KEY PART OF BATTLE AGAINST MONEY LAUNDERING AND TERRORIST FINANCE
February 8th, 2015
QUALITY suspicious transaction reports (STRs) and suspicious activity reports (SARs) around the world are crucial to identifying and combatting money laundering – but a lack of feedback from law enforcement and financial intelligence units (FIUs) can discourage reporting entities from working to improve their reports. A strong relationship between FIUs and reporting institutions based on two-way communication, regular meetings of representatives on both sides, and greater training on the reporters’ end can boost overall confidence in STR/SAR processes and ...
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