The Financial Intelligence Unit wishes to officially welcome you to our website. We view this as an extremely important venture, as we seek to provide an opportunity for Financial Institutions, Designated Non-Financial Businesses and Professions (DNFBPs) and other stakeholders to access pertinent information and updates on Trends, Typologies and other current issues relating to Anti-Money Laundering and Counter Terrorist Financing matters.
This site is designed to be interactive and user friendly with supporting links to interface at different levels. It is our hope that this initiative will strengthen the existing platform for deeper collaboration and cooperation with our Local, Regional and International partners.
HEAD OF FIU
To prevent and detect money laundering, terrorist financing and other serious financial crimes, through collaboration with local, regional and international stakeholders.
Towards a Secure Financial Sector.
Functions of the FIU
Receipt, retention and analysis of suspicious transaction reports:
Collection of other information relevant to performing its functions;
Seizure of proceeds of crime;
Inform financial and business institutions as to their obligations relating to detecting, preventing and deterring money laundering and terrorist financing;
Investigation of matters arising from suspicious transaction reports, money laundering, terrorist financing and other financial crimes.
Powers of the FIU
Where after the analysis of a suspicious transaction or suspicious activity report from the financial institution or listed businesses the Head of the FIU is of the view that further information may disclose that a specified offence has been or may be committed or the proceeds of crime are or may be in Grenada or elsewhere, he may:
Request further information from a financial institution or listed business within a specified time, which information shall be provided accordingly; or
After the FIU has concluded its analysis or evaluation of a suspicious transfer or activity report, and in which the Head of the FIU is of the view that circumstances warrant investigation:
A report shall be submitted to the relevant law enforcement authority for investigation to determine whether a money laundering offence has been committed, or whether the proceeds of crime is in Grenada or elsewhere.