FINANCIAL INTELLIGENCE UNIT  OF BENIN (FIU)

The BENIN FINANCIAL INTELLIGENCE UNIT is the body of the Government of Republic of Benin, statutorily mandated to assist with combating money laundering and financing of terrorism.

The FIU strives to develop a strong legal basis to combat money laundering, financing of terrorism activities and other financial crimes within the borders of Benin, to protect the integrity and stability of the financial system, by monitoring and supervising the anti-money laundering and anti-financing of terrorism controls and systems implemented by businesses that are vulnerable to money laundering or terrorist financing and by producing intelligence products that incorporates the analysis of relevant classified information.

ECOWAS Member Countries where FIU operates
Benin,Togo,Ivory Coast,Liberia, Sierra Leone,Mali, Burkina Faso,Nigeria, Senegal,Cap Verde and Guinea

Monitored in 2021
19.3
Bank Transfers
12.7
ATMS
6.6
Cheques
Transactions in 2021
1556
Blocked
2354
Pending
8064
Successful

Documents

Legal & Regulatory Framework

  • Act No. 4 of 2013 Money Laundering and Terrorism (Prevention) (Amendement) Act, 2017
  • Act No. 37 July 2017 - Money Laundering and Terrorism (Prevention) (Amendment) Act
  • Act No 7 of 2016 MLTPA Amendment
  • AML Committee Regulations 8 of 2020
  • FIU Act as Amended 7th February 2014

Quick Links.

  • Report a Financial Crime
  • Suspicious Transaction


We Are Egmont Group Regional Representative

The Egmont Group provides us with a secure platform to exchange expertise and financial intelligence to combat money laundering, terrorist financing, and associated predicate offenses.

News and Top Stories

The Financial Intelligence Unit of Benin (BFIU), has issued an authoritative policy statement.

BFIU Is Prepared to Take Giant Step for Implementation of Amendment and Restatement PFM Act of 2009  DG Asogba Gives Assurance
8 February 2022

The Financial Intelligence Unit of Benin levied fines.

FIU Benin fines All Insurance Companies operating in Cotonou for Violation, Non-Compliance, and Obstruction.

AUTHORITY OF THE FIU OVER REPORTING ENTITIES.

Issue regulations on the procedures and methods for submission and secured transmission, as well as the form and content of STR, CTR and other report to the BFIU.

Require designated regulators or supervisor of reporting entities to monitor and enforce compliance with AML/CFT reporting obligations and inform the BFIU instances of non-compliance.

Enforce compliance where a reporting entity fails to comply in whole or in part with reporting obligations through administrative sanctions established by Ministry of Justice for prosecution where an offense has been committed..