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Europol publishes guide for cooperation against financial crime

Monday 3 February 2025 14:38 CET | News

Europol has issued the EFIPPP Practical Guide for Operational Cooperation between Investigative Authorities and Financial Institutions.

 

It addresses policymakers, investigative authorities, and private stakeholders, providing suggestions to advance operational cooperation from a legal and practical standpoint.

This guide sees contributions from numerous EFIPPP public and private sector members, observers, and other experts, and provides best practices and lessons learned, drawing from the EFIPPP’s experience and from other existing cooperative mechanisms.

Europol issues practical guide against financial crime

Combating financial crime through collaboration

The EFIPPP provides an overview of collaborative mechanisms between over 90 stakeholders, Financial Intelligence Units (FIUs) and law enforcement agencies to address structured threat information across the community.

In the past decade, public-private partnerships across the world have played a crucial role in enabling cooperation. However, this public-private cooperation has been less present in the fight against financial crime, meaning that investigative authorities may miss opportunities to improve their response to financial crime.

EFIPPP's Practical Guide seeks to build awareness among policymakers and relevant authorities about the added value of public-private cooperation. It outlines objectives, benefits, methods and conditions for cooperation, as well as the key factors that legislative frameworks need to accommodate.

The guide was based on existing operational cooperative mechanisms in Denmark, Ireland, Latvia, Sweden, the Netherlands, and the UK, and it encourages the collaboration between private and public stakeholders against financial crime.

Financial crime in Europe

In January 2025, law enforcement in Europe cracked down on a criminal network that abused the EU’s temporary protection status to move EUR 35.7 million. The initiative was coordinated by Spanish, Cypriot, German, and French authorities, with support from Europol and Eurojust, and led to the arrest of multiple suspects and the seizure of several criminal assets, following raids conducted in October 2024.

The suspects are believed to have abused the temporary protection status granted to Ukrainian refugees by the EU since 2022.


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Keywords: financial crime, fraud prevention, partnership, financial institutions, fraud management
Categories: Fraud & Financial Crime
Companies: Europol
Countries: Europe
This article is part of category

Fraud & Financial Crime

Europol

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