Fraud/AML

In the economic arena, financial intelligence, or FININT, is increasingly pivotal. With international financial crime near its highest level since the 2008 financial crisis, FININT has become ever more necessary as a tactic both for stopping criminals and for enforcing laws and regulations.

FININT is the compiling of information regarding the financial affairs of certain significant entities in order to determine their capabilities and predict their future actions. Generally speaking, FININT is used in the context of financial crime and law enforcement, but this is not necessarily the case.

FININT is especially useful in detecting money laundering. Money laundering is generally connected with other crimes, such as drug trafficking, and it is responsible for the illegal migration of billions of dollars across international borders every year. By collecting large amounts of FININT, both organisations and governments are able to discover suspicious persons and determine whether any financial crime is being committed and, if so, what it is. Due to anti-money laundering regulations, banks are required to provide governments with large amounts of FININT, including clients’ personal and transaction data.