Courses

Course Description

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Role of Financial Intelligence Unit (FIU) in the Fight against Money Laundering,
Terrorist Financing and other predicate Offences/Crimes

Financial Intelligence Units (FIUs) serve as national centers for the receipt and analysis of suspicious transaction reports and relevant money laundering information, associated predicate offences, and terrorist financing. FIUs are responsible for disseminating analysis results to relevant Stakeholders. An FIU should obtain additional information from reporting entities and have timely access to required financial, administrative, and law enforcement information to undertake its functions properly.
After attending this course/workshop, the participants will be aware of all the functions of FIU and particular to Pakistan’s FIU i.e. Financial Monitoring Unit (FMU) which established under the section-xxx of Anti Money Laundering Act 2010.

Course Outline:
The participants of the course will be able to learn about:
• What is a Financial Intelligence Unit (FIU)?
• Why is there a need for a country to have a FIU?
• What are relevant FATF recommendations related to FIUs?
• What role do a FIU has in the Mutual Evaluation of a country?
• To what extent a FIU contributes in the National Risk Assessment (NRA) of a country?
• What are different types of FIUs in the globe and which models of FIUs are more effective?
• What is Egmont- An Overview of Egmont
• What are roles and functions of Pakistan’s FIU, Financial Monitoring Unit (FMU)?
• What analysis tools or techniques are used by FMU?
• To what extent FMU access and use information available on public and private databases?
• How can ‘open source intelligence’ be manipulated to gather relevant information or intelligence?
• What types of analysis are conducted by FMU?
• The responsibilities of reporting entities (REs) to provide timely information to FMU under the AML Act 2010.
• What is the significance of strategic analysis and why it is conducted?
• What is the reporting mechanism of Suspicious Transaction Reports (STRs) and Currency Transaction Reports (CTRs) on goAML?
• What are the upcoming changes in the new version of goAML which will have an impact on the current reporting mechanism?
• What typologies or case studies have been observed recently including trends and patterns noticed during strategic analysis of certain offences or businesses?
• How FMU assists in sharing or seeking information to/from a foreign jurisdiction to counter ML/TF?

Trainer:
Mr. Shahzad Hussain – Deputy Director
Financial Monitoring Unit

Mr. Shahzad Hussain was awarded his university degree Master of Business Administration in 2007. He has over 3 ½ years of experience in branch banking (General Banking and Advances) and since April 2010 he is employed in Financial Monitoring Unit (FMU) which is Financial Intelligence Unit of Pakistan.
Currently he is holding the position of Deputy Director and serving as a Team Lead in Analysis Division of FMU. He has been engaged in the tasks related to the analysis of Suspicious Transaction Reports (STRs) and Currency Transaction Reports (CTRs) which includes both tactical and strategic analysis, facilitating reporting entities (REs) by tackling issues faced by them related to reporting on goAML system through coordination with REs and handling queries of REs for clarifications/guidance. He has also been involved in arranging training sessions/compliance forums for capacity building of reporting entities including one-on-one meetings with the REs and identifying and escalating compliance issues related to reporting entities to improve the quality of reporting.