EUROPOL FINANCIAL INTELLIGENCE PUBLIC PRIVATE PARTNERSHIP

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About

EFIPPP is the first transnational information sharing mechanism ever established in the field of Anti-Money Laundering and Counter-Terrorist Financing. Created in 2017, EFIPPP provides an environment for cross-border cooperation and information exchange between Europol, competent authorities (including Financial Intelligence Units and Law Enforcement Agencies) and regulated financial service entities such as banks.

Objectives

EFIPPP offers a unique opportunity to test and increase possibilities for cross-border cooperation that transcends sectorial lines. In particular, EFIPPP seeks to:

  • Build a common intelligence picture and understanding of the financial crime risks through the examination and public-private sharing of risk indicators, early warnings and threat typologies;
  • Facilitate the exchange of operational or tactical intelligence associated with on-going investigations (in accordance with the applicable national and EU legal frameworks);
  • Identify gateways for information sharing and support work on clarification of regulatory constraints (in accordance with the applicable national and EU legal frameworks);
  • Promote the use of new tools for combatting financial crime, leveraging new technologies and exchanging common experience and methods for innovation and trainings;
  • Support domestic and similar collaborative fora in relevant jurisdictions with the goal to act as an effective hub between the different platforms and facilitate cross-public-private partnership information and intelligence sharing.

Hear from our executives

The EFIPPP has created a really unique cross-border community which works hand in hand to combat financial crime. It is inspiring to see the level of trust that has been built between the members and their eagerness to share intelligence and expertise. The cooperation within EFIPPP has already yielded significant results; the potential is tremendous.
Wim Mijs
CEO, European Banking federation
It is imperative that we strengthen the AML/CFT framework by applying better, broader data sharing practices between the public and private sectors through an intelligence-led approach to reporting mechanisms. This is what EFIPPP is starting to achieve. I am convinced that this project, along with domestic PPPs across the EU and around the world, have a key role to play in building a more effective anti-financial crime ecosystem.
Tim Adams
President and Chief Executive Officer of the Institute of International Finance
Looking back, I am very proud to see how the EFIPPP developed. The project started with just a handful of partners sharing concerns and expertise and gradually grew to become the fully fledge public-private partnership we know today ; an innovative and dynamic platform allowing public and private partners to work together in building a common intelligence picture of financial crime threats and terrorist financing.
Catherine de Bolle
Europol Executive Director

Main activities

EFIPPP engages in a wide range of activities to achieve its objectives

Typologies

The development of crime typologies presenting red flags and risk indicators on key predicate offences and modi operandi for money laundering and terrorism financing

Analysis products

The development of joint analysis products (e.g. EFIPPP threat radar, guidebooks and knowledge products)

Information exchange

The exchange of strategic information and expertise (e.g. annual activity reports; national/group risk assessments; expert visits and exchanges)

The analysis of legal gateways for information sharing between public and private partners (e.g. mapping of the possibilities for enterprise wide information sharing of CDD/KYC and SAR data)

Exchange of expertise

The exchange of expertise for innovation and training with EFIPPP innovation working group

Bilateral operational exchanges

Bilateral operational exchanges among participating institutions in the context of financial investigations and asset recovery operations (in accordance with the applicable national and EU legal frameworks)

Policy input

Development and provision of policy input and expert advice to various stakeholders

A Growing Community

By April 2022, EFIPPP brought together 81 institutions spanning over 20 EU and non-EU countries, a significant development from the 28 institutions (8 countries) registered when the initiative was launched in 2017.

Three law enforcement agencies, two financial institutions, one financial intelligence unit and national public private partnership joined the community in 2021. This growth reflects the diversity sought by EFIPPP as an initiative aimed at bridging the gap between all stakeholders playing a role in the fight against financial crime and terrorist financing.

Americas

Counter Illicit Finance Alliance

FBI

US Secret Service

Financial Intelligence Unit

Bank of America

Citibank

JP Morgan

Western Union

Paypal

Europe

Oceania

Law enforcement agencies, Financial Intelligence Units and Financial Institutions participate as full members. Other institutions such as international organisations, banking associations and think tanks participate as observers (no decision powers); their expertise significantly contributes to building the common intelligence picture on financial crime and terrorist financing and in exploring possibilities for better information sharing among partners.

The full community meets four times a year in plenary meetings. These meetings are the opportunity to address issues of common interest, share expertise and exchange typologies and risk indicators on Key ML/TF threats.

Structure

EFIPPP is built around four levels

The Strategic Oversight Body

provides strategic advice and guidance on matters related to EFIPPP’s development and focus areas (meets annually);

The Steering Group

directs the activities of EFIPPP and acts as its decision making body. The group defines the priorities for every calendar year, approves new members and regulates the activities of the working groups (meets monthly);

The Working Groups

implement the objectives of EFIPPP and develop the EFIPPP products. They are the beating heart of EFIPPP.

The Threat & Typologies Group

is further divided in seven work streams dedicated to building the knowledge on specific threats.