The current Financial Intelligence Service (FIS) of Ethiopia, formerly known as Financial Intelligence Center has been re-established by Council of Ministers Regulation no.490/2022. The Financial Intelligence Service has started operation in January 2012. Its establishment is part of the effort to bring different stakeholders together to combat money laundering & financing of terrorism.
As clearly stated in its re-establishment regulation, the objective of the Service is ''...to coordinate the various institutions involved in the fight against money laundering, financing of terrorism and profliration financing, to organize and analyze the information it receives as well as fulfill international and continental obligations and to perform other related tasks.''
To see Ethiopia free from financial crimes.
To control and suppress money laundering, financing of terrorism & proliferation financing crimes; the Financial Intelligence Service collects, analyses and disseminates intelligence as well as cooperate and coordinate with local & international partners.
- Respecting rule of law
- Loyalty
- Integrity
- Professionalism
- Hate corruption
- Confidentiality
- Medemer
...without prejudice to its powers and duties specified under other provisions of proclamation 780/2013,
- Collect, receive, store, survey, analyze and disseminate information concerning suspected money laundering and financing of terrorism in accordance with this proclamation;
- Enhance public awareness and understanding of matters related to money laundering and financing of terrorism.
- Conduct research relating to the source, mechanisms of commission, type, nature and dangers of money laundering and financing of terrorism and indicte solutions to the relevant bodies;
- Without prejudice to the power of the National Bank to regulate financial institutions, issue guidelines to assist financial institutions and designated non-financial businesses and professions to comply with the obligations provided under this proclamation;
- Establish appropriate information management systems to ensure the protection of sensitive and confidential information disclosed to it under proclamation 780/2013.
- Maintain comprehensive statistics on its operations, including the number of reports received pursuant to this proclamation, the number of referrals made to law enforcement bodies, the number of criminal investigations and prosecutions based on those referrals, and the number of international requests for assistance;
- Refer promptly to the appropriate law enforcement organ where, based on its analysis and assessment, there exists reasonable grounds to suspect that the report or information it has received is relevant to an investigation or prosecution of offence not covered under proclamation 780/2013;
- Either independently or in collaboration with the regulatory authorities, conduct inspections of financial institutions and designated non-financial businesses and professions to ensure compliance with this proclamation;
- Follow up the implementation and coordinate the actions of other governmental institutions combating money laundering and financing of terrorism;
- Carry out other related activities.