Since 2015, FSVC is working with funding from the U.S. Department of State’s Bureau of Counterterrorism (CT) to support capacity building for the Financial Intelligence Unit (FIU) in Tunisia.
The program aims to help develop the capacity of the FIU in Tunisia and financial sector regulators to identify report and ultimately deter terrorist financial activity. This work focuses on:
- Improving Capacity of the FIU – FSVC is assisting the Tunisian FIU in using international tools and standards, and in implementing an electronic platform to organize and analyze financial intelligence, process Suspicious Transaction Reports more effectively, analyze terrorist financing typologies, and facilitate the exchange of information with reporting entities, law enforcement and prosecutors.
- Improving Anti-Money Laundering (AML)/Combating the Financing of Terrorism (CFT) Regulations and Supervision Capabilities – FSVC is working with all the financial regulatory institutions in Tunisia to help draft or update their AML/CFT regulations. In addition, FSVC is training supervisory staff at these institutions in how to use the AML/CFT examination tools and procedures to conduct AML/CFT examinations.
Program Impact
- 187+ people trained on AML/CFT best practices. Participants in the program include representatives from the FIU, financial sector regulator, financial institutions, prosecutors and law enforcement.
- As a result of the program, the FIU’s structure and operations have improved significantly. The FIU has also improved its mapping of low and high risk area for terrorist financing and its coordination other regulatory agencies as a result of FSVC’s assistance.
- As result of the program, financial sector regulators adopted methods and procedures for CFT supervision.
- Financial regulators drafted or updated their AML/CFT regulations as a result of FSVC’s recommendations.
