Developing financial intelligence

an assessment of the FIUs in Australia and India

Milind Sathye, Chris Patel

Research output: Contribution to journalArticle

7 Citations (Scopus)

Abstract

Purpose - The purpose of this paper is to present a comparative position of the extent of commonality or diversity in the rationale, objectives, processes used and outcomes achieved by financial intelligence agencies in India and Australia. An effective financial-intelligence unit (FIU) can make a significant contribution to combating serious financial crimes nationally and internationally. Design/methodology/approach - The agencies in these two countries are compared using the framework for assessment of financial regulatory agencies - suitably modified to capture the specialist role of such agencies. Information available at the web site of the two agencies has been used. Findings - The study shows several commonalities and differences in the financial intelligence agencies in the two countries and points to operational and policy changes required in making the units more effective. Originality/value - It is hoped that the study would encourage similar studies in respect of other FlUs and help in contributing to making the global financial-intelligence regime more robust.
Original languageEnglish
Pages (from-to)391-405
Number of pages15
JournalJournal of Money Laundering Control
Volume10
Issue number4
DOIs
Publication statusPublished - 2007

Keywords

  • financial institutions
  • Australia
  • India
  • money laundering
  • crimes

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