The establishment of IFCACC is aimed at providing a coordinated response to such international threats as:
- fraud and payment crime;
- money laundering also with the use of virtual assets and asset recovery;
- corruption, including grand corruption.
Within its mandate, IFCACC will do the following:
- streamline and expand the existing INTERPOL initiatives against financial crimes and illicit financial flows and those targeted at asset recovery in cooperation with the Financial Action Task Force (FATF), FATF-Style Regional Bodies, the Egmont Group of Financial Intelligence Units, law enforcement agencies and the financial sector;
- coordinate regional and global operations against transnational financial crimes, telecom fraud and other types of social engineering scams, money laundering, corruption etc., and HAECHI* operations;
- support INTERPOL member countries in conducting investigations also by crosschecking data against INTERPOL databases and provide analytical support based on Financial Crime Analysis File, a dedicated tool for investigating financial crime available to law enforcement agencies;
- provide awareness-raising support and coordination also in conducting training sessions to equip law enforcement officers and Financial Intelligence Units with the knowledge and best practices to meet today’s financial crime, money laundering and corruption threats;
- exchange knowledge and expertise with the participants of other INTERPOL projects related to the investigation of such crimes as human trafficking, environmental crime etc. if they involve corruption or financial crime;
- publish reports and guidelines to highlight the latest crime trends and current best investigative practice.
*HAECHI is a code name of INTERPOL operations to tackle cyber-enabled financial crime: investment fraud, money laundering associated with illegal online gambling, voice phishing, romance scams and online sextortion.