The FIAU Strategy is underpinned by six Pillars, serving as the foundations that guide the unit in fulfilling its purpose and realising its vision. Each Pillar encompasses several Strategic Objectives, considered essential components for an effective financial intelligence unit and AML/CFT supervisory authority. Going beyond high-level Objectives, the strategy outlines specific operational Goals, Milestones, and Tasks, accompanied by control frameworks to measure and monitor progress on expected deliverables.
The strategy is based on 6 Pillars, 4 of which draw from the 11 FATF Immediate Outcomes (IOs), integral to assessing a country’s AML/CFT system effectiveness.
- Pillar 1: Effective and Proportionate AML/CFT Measures [IO 3, 4, 5, 10 and 11]
- Pillar 2: Generating and Disseminating Useful Financial Intelligence [IO 6, 7, 8 and 9]
- Pillar 3: Effective International Engagement [IO 2]
- Pillar 4: A risk-focused FIAU [IO 1]
- Pillar 5: Efficient Internal Communications & Coordination
- Pillar 6: Enabling the FIAU
Each Pillar and its corresponding strategic objectives aim to explore new or smarter and more efficient ways of operating in an ever-changing environment.
Crucially, the Strategy formulation and its implementation plan is a collective effort of the FIAU staff drawing from diverse perspectives, their subject-matter expertise and tenured experience. It is therefore a Strategy owned and developed by a proud and committed FIAU staff, poised to implement it diligently over the forthcoming years.