The Caribbean Financial Action Task Force has published an article on asset tracing, centered on financial investigations, cooperation and timely access to information. It emphasizes early tracing, effective information sharing and proportionate safeguards when authorities seek criminal property or property of corresponding value.
Policy & regulationGuidance & interpretationAML and CFTCross-border cooperationBeneficial ownership
The Caribbean Financial Action Task Force has published the second article in its asset recovery series, explaining how authorities can locate, evaluate and pursue criminal property and property of corresponding value. Drawing on Financial Action Task Force standards and nonbinding guidance, it identifies three pillars of effective asset tracing: financial investigative techniques, domestic and international cooperation, and timely access to information.
The article emphasizes early, proactive financial investigations and access to sources such as account, beneficial ownership, tax and asset registry information. It also covers compulsory measures and advanced investigative techniques, rapid information exchange across agencies and borders, and technology-enabled data sharing. Asset-tracing powers should be exercised lawfully and proportionately, with oversight, confidentiality, data security and protections for affected persons and bona fide third parties.
The next article in the series will examine provisional measures used to freeze and seize criminal property.
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