FIU Activities

Money laundering and financing of terrorism constitute an international complicated problem. That is why every country, advanced, developed or underdeveloped, gives great care to this matter. Moreover, the ways of money laundering and financing of terrorism are getting more complicated day by day. This makes the detecting such criminal activities, also getting difficult day by day. Nowadays, the problem has become a real threat to the interests and security of nations and a real challenge to the world’s economy and financial system.

  • Visited some sister counters to have an idea about the bases of establishing the FIUs, about their work systems and about their responsibilities.
  • Participates in workshops on mutual assessment to train qualified Oman own experts in such field, so that the secretariat of the Financial Action Task Force (FATF) can chose them to participate in the regional and international mutual evaluations.
  • FIU Participated in the assessment team for Morocco 2006.
  • FIU Participated in the interior assessment team formed pursuant to a decision of the minister of National Economy. The assessment included all the competent governmental and private sector bodies so as to check the effectiveness of the used systems and to what extent such bodies are compliant with the systems of anti-money laundering and combating of terrorism. The recommendations of the team have been approved by the cabinet in 2008.
  • FIU Participated in drafting the Law of Anti-Money Laundering and Combating of Financing of Terrorism with the National Committee for Combating Money Laundering and Terrorism Financing (NCCMLTF). The law has been issued by Royal Decree No. 79/2010.
  • Participated in drafting the Law of Anti-Money Laundering and Combating of Financing of Terrorism with a team formed by a decision of the minister of National Economy.
  • FIU Participated in preparing a file for assessing the systems of anti-money laundering and combating of terrorism in the Sultanate of Oman with the Technical Committee according to a decision of the minister of National Economy.
  • Set out a work system and regulations (Administrative & Financial) for the unit, in consistency with the international recommendations, the (AML/CFT) Law and its Implementing Regulation.
  • FIU prepares periodical reports (Quarterly/Biannual/Manual) on its activities, STRs and actions taken about them.
  • Participates in the meetings of FATF, MEANAFATF and Egmont.
  • Participates in the coordinative meetings of the supervising authorities and supervised bodies to brief both on the mutual assessment, its importance and required procedures.
  • Briefed ROP departments on the mutual assessment, its importance, and the required procedures to welcome the assessment team.
  • Prepared the declaration forms of Physical Cross-Border Transportation of Currency and Bearer Negotiable Instruments in coordination with the customs authorities and the (AML/CFT). The forms are already in use at the border crossings 9land, sea & air).
  • The FIU participates as a member, in the FIUs forum of MEANAFATF members.
  • The FIU prepares signage (paper & metal) to notify passengers and companies about the declaration forms of Physical Cross-Border Transportation of Currency and Bearer Negotiable Instruments in coordination with the customs authorities.
  • Coordinates with departments of investigations and police stations when they investigate and collect evident in predicate crimes that may result in laundering the proceeds of such crimes.
  • Shares requests, information and assistance with competent authorities in a number of countries which are members in MEANAFATF according to the principle of reciprocity.
  • Gives support to the Public Prosecution in financial cases by providing investigations and financial analysis services.
  • Attends trials to provide technical support for judges and public prosecutors on financial other affairs related to money laundering and terrorism financing.
  • Receives declaration forms of Physical Cross-Border Transportation of Currency and Bearer Negotiable Instruments, analyzing them and comparing them with the suspicious transactions registered by the FIU.
  • FIU seeks to sign memorandums of understand with counter FIUs within the framework of international cooperation and sharing of information related to AML/CFT.
  • FIU is seeking to join Egmont Group through the sponsorship of USA and Qatar.
  • Has issued and disseminated a STRs Manual for the reporting entities.