Institutions that are obliged to report unusual transactions, such as banks, do so to the FIU. There it is then assessed whether remarkable money movements should also be regarded as suspicious. If the transactions are indeed suspicious, they are passed on to the police or intelligence and security services. The total value of the transactions declared suspicious amounted to almost 15 billion euros in 2020.
According to the FIU, the increase is related, among other things, to the investments made in the past year in the capacity and strengthening of technology, knowledge and expertise at the organization. The FIU is expanding its workforce to approximately ninety full-time jobs. That was 76 at the end of 2020.
Furthermore, more than 722,000 unusual transactions were reported by 1914 to various reporting entities. In 2019, this concerned more than 541.00 reports of regular unusual transactions.
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Significantly more suspicious financial transactions | Financial
Source link Significantly more suspicious financial transactions | Financial