UAFE officials strengthen their knowledge thanks to the training in strategic financial intelligence management given by the UAF of Chile

Money laundering is a phenomenon that has evolved over time, adapting to new economic possibilities and the speed of financial transactions, which represents new challenges for its eradication. Likewise, the Financial Intelligence Units must have a solid operational, technological and human capacity that allows them to identify threats that affect public safety and economic order.

In this context, the Financial and Economic Analysis Unit (UAFE) and the Financial Analysis Unit of Chile (UAF), co-organized a Webinar, entitled: "Strategic Financial Intelligence and Design of Public Policies AML / CFT with a Risk-Based Approach" , which took place on Tuesday, June 30, 2020, with the aim of contributing to the strengthening of technical knowledge of UAFE officials on financial intelligence, technology and systems in AML / CFT management and also sharing policy experiences public with a risk-based approach.

During the event, the General Director of the UAFE, Leopoldo Quirós, highlighted the importance of the Fourth Round of Mutual Evaluations for Ecuador and the proactive role of the Financial Intelligence Units within the system of prevention of money laundering, financing of terrorism and other crimes. “The experience acquired throughout this day will allow us to demonstrate that the Financial Intelligence Units play a preponderant role in prevention, detection and eradication; being able to obtain quality results for the well-being of the citizen.”, he pointed out.

For his part, Javier Cruz Tamburrino, Director of Chile's Financial Analysis Unit, stated that, with a view to a Mutual Evaluation process, it is important to implement changes in each of the mission areas to strengthen the anti-laundering system. He also highlighted the institutional cooperation between the Financial Intelligence Units of Ecuador and Chile.

Likewise, the Chilean peers emphasized that Strategic Financial Intelligence must be applied from the beginning in all processes, having operational models that allow maintaining complete and updated databases, in order to generate efficiency and quality in the results of the reports. Likewise, risk-based supervision seeks to ensure that reports of suspicious transactions are correctly executed by the obligated subjects.