In which two ways does a government Financial Intelligence Unit interact with public and private sectors? (Choose two.)

Question

Options

• AIt governs the methods of investigation used by competent authorities
• BIt mediates disputes between financial institutions and investigative authorities
• CIt receives and analyzes disclosures filed by financial and non-bank institutions
• DIt disseminates information and the results of its analysis to competent authorities

• A
  10% (3)
• B
  17% (5)
• C
  73% (22)

Explanation

A government Financial Intelligence Unit (FIU) is a national body or agency that collects, analyzes, and disseminates information on suspicious or unusual financial activity related to money laundering, terrorist financing, or other financial crimes. One of the main functions of an FIU is to receive and analyze disclosures or reports filed by financial and non-bank institutions, such as banks, casinos, money service businesses, lawyers, accountants, etc., that are obliged to report transactions or activities that may indicate money laundering or terrorist financing34. Another key function of an FIU is to disseminate the information and the results of its analysis to competent authorities, such as law enforcement, prosecutors, regulators, or other FIUs, for further investigation, prosecution, or preventive action56. These two ways of interaction enable the FIU to act as a bridge between the public and private sectors in the fight against financial

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