1. There should be designated law enforcement authorities that have responsibility for ensuring that money laundering, predicate offences and terrorist financing are properly investigated through the conduct of a financial investigation. Countries should also designate one or more competent authorities to identify, trace, and initiate freezing and seizing of criminal property and property of corresponding value.
2. A 'financial investigation' means an enquiry into the financial affairs related to criminal activity, with a view to:
- identifying the extent of criminal networks and/or the scale of criminality;
- identifying and tracing criminal property and property of corresponding value; and
- developing evidence which can be used in criminal and/or confiscation proceedings.
3. A 'parallel financial investigation' refers to conducting a financial investigation alongside, or in the context of, a (traditional) criminal investigation into money laundering, terrorist financing and/or predi
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