The value of documentation as a source of financial intelligence in money laundering investigations

Abstract

This study explored the value of identifying and analysing documents during search and seizure operations, as a source of financial intelligence, in the investigation of money laundering. Data was collected through semi-structured interviews with investigators and intelligence analysts, who investigate financial crimes, including money laundering, at the Republic of Seychelles Financial Intelligence Unit (FIU) as well as the Republic of Seychelles Police Force (SPF) Financial Crimes Investigation Unit (FCIU). The findings of the research indicate that law enforcement agencies (LEAs) in the Republic of Seychelles, mandated to investigate financial crimes, do not realise the value of documents as a source of financial intelligence in financial investigations. As a result, during search and seizure operations, investigators only focus on documents that are directly related to an illicit offence and not on documents that could have financial intelligence value for identifying a predicate offence, such as money laundering. Consequently, recommendations are proposed to optimally identify and analyse documents during search and seizure operations as sources of financial intelligence, not only in money laundering investigations but also related to financial investigations in general.