Financial intelligence units, law enforcement, and other operational agencies around the world, regardless of their development and size, have been incorporating different digital tools to assist their daily work to detect and disrupt illicit financial flows.
In October 2021, the FATF and the Egmont Group of Financial Intelligence Units completed a project to explore how financial intelligence units can leverage technology to strengthen their operations. The report focuses on how to find the right tools and when to use them, how to optimise these tools for AML/CFT purposes, and how to overcome practical and operational challenges.
The full report is available to public authorities. Operational agencies may get in touch with your domestic AML/CFT coordinating agency for access of the report. A summary highlighting key findings of the report, including the drivers and strategic considerations, and the benefits and opportunities that digital transformation can offer, is available for download.
The FATF is continuing its work on digital transformation, focusing on how the use of technology and advanced analytics could support ML/TF investigation and information exchange. The findings of this project will be finalised in June 2022.