Money laundering and the financing of terrorism are global problems that threaten the security and stability of financial institutions and systems, undermine economic prosperity, and weaken governance systems. Therefore, to support the fight against this type of crime, the United Nations Office on Drugs and Crime (UNODC) has developed goAML application for the operation of the Financial Intelligence Units of its member countries to combat money laundering and terrorist financing.
Financial Intelligence Units (FIUs) use goAML application in the prevention of anti-money laundering and counter-terrorist financing (AML/CTF) activities for receiving, processing, and analyzing reports made by financial institutions or other entities following the requirements of domestic AML/CTF laws and regulations. Such reports and other information gathered by FIUs often provide the basis for investigations into money laundering, terrorist financing, and other serious offenses.
As of today, more than 60 member states are users of goAML and Mongolia was registered as a user in 2019.
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The goAML application has three primary solutions:
- Collection: data is submitted by FIUs from banks and other financial institutions;
- Analysis: suspicious transaction report analysis;
- Data exchange:
- between the FIU and the intelligence agencies or juridical authorities (within the framework of the national coordination).
- between the FIU and regional institutions (eg. through FIU.net) and international ones (eg. Egmont Secure web).
Source: https://unite.un.org/goaml/