Functions and Responsibilities
The FIU is the national agency responsible for inter alia the receipt of all reports, including suspicious transaction reports pertaining to money laundering and terrorism financing. The Unit cooperates extensively with other law enforcement agencies both domestically and internationally.
Among the many other functions and powers of the Unit, section 4 of the FIU Act states as follows:
The Unit –
- is responsible for receiving, requesting, analyzing, investigating and disseminating information concerning all suspected proceeds of crime and suspicious transactions, as provided for under the FIU Act, and information relating to the property of terrorist groups and terrorist financing;
- shall gather intelligence with a view to detecting money laundering, terrorist financing and other financial crimes;
- shall establish a data base on cases with a view of detecting money trails;
- shall liaise with money laundering and terrorist financing intelligence agencies outside of Dominica;
- shall gather information about pending cases of money laundering, terrorist financing and other financial crimes in other jurisdictions;
- may on reasonable suspicion that any provision of the Money Laundering (Prevention) Act 2011 or the Suppression of the Financing of Terrorism Act 2003 is being or has been contravened apply to a Judge, or in his absence a Magistrate, for a warrant to enter into the premises of any financial institution or any person carrying on a scheduled business, during normal working hours to inspect any business transaction record kept under section 12 of the Money Laundering (Prevention) Act 2011 and ask any questions relevant to such business transaction record and make any notes or take any copies of the whole or part of any such business transaction record;
- may instruct any financial institution or person carrying on a scheduled business, to take steps it considers appropriate to facilitate any investigation anticipated by the Unit;
- shall compile statistics and records on matters relating to money laundering;
- may consult with any person, institution or organization within or outside Dominica for the purposes of the exercise of its powers and duties under this Act;
- shall pass on any relevant information relating to money laundering, terrorist financing, or any other financial crime, to the Director of Public Prosecutions with a view to taking appropriate action;
- shall carry out any other function assigned to it by the Minister.