Financial Intelligence Authority

Combating Money Laundering and Terrorist Financing

The establishment of a Financial Intelligence Authority and a Financial Intelligence Authority Board Under the Anti-Money Laundering Act, 2013 is for the prohibition and prevention of money laundering, in order to combat money laundering activities:

  1. To impose certain duties on institutions and other persons, businesses and professions who might be used for money laundering purposes.
  2. To make orders in relation to proceeds of crime and properties of offenders.
  3. To provide for international cooperation in investigations, prosecution and other legal processes of prohibiting and preventing money laundering.
  4. To designate money laundering as an extraditable offence; and to provide for other related matters.