The FIU shall have the following powers:

1. Putting in place the FIU’s departments and internal regulations for approval by the Central Bank’s Board of Directors. The internal regulations shall include procedures to ensure the competency and integrity of its employees and the awareness of their responsibilities in dealing with confidential information.
    
2. Establishing a database or special register to hold any information it has available and securing this information by establishing rules that govern information security and confidentiality, including procedures for processing, storing, disseminating and setting procedures to ensure limited access to the FIU’s facilities, information and technical systems and to the review or disclosure of information, except by those authorised to do so.
    
3. Providing courses and programs to train and develop the employees working in it and any other authority, be it inside or outside the State.
    
4. Preparing studies, research and statistics related to the Crime, and following up on any studies, research or statistics conducted domestically or internationally in this regard.
    
5. Preparing annual reports about its Crime-combatting activities that include specifically general analysis of STRs and notifications received as well as activities and trends of the Crime, and preparing a brief of this report for dissemination purposes.
    

In the course of performing its duties as regards suspicious transaction reports, the Unit shall have competence to carry out the following:

1. Receive, study and analyse reports from Financial Institutions, Designated Non-Financial Businesses and Virtual Asset Service Providers according to the models approved thereby, and save the same in its database.
    
2. Request Financial Institutions, Designated Non-Financial Businesses, Virtual Asset Service Providers and the Competent Authorities to provide it with any additional information or documents relating to the reports and information it has received and other information it deems necessary for the performance of its functions, including information on customs reforms, on the date and the form specified by the Unit.
    
3. Analyse reports and information available thereto as follows:
    
   1. Conduct an operational analysis using available information and data that can be obtained to identify specific targets such as persons, money or criminal networks, track the course of specific activities or Operations, and identify linkages between these objectives, activities or Operations and the potential Proceeds of the Crime.
       
   2. Conduct a strategic analysis using available information and information that can be obtained, including data provided by the Competent Authorities, to identify the trends and patterns of the Crime.
       
4. Providing Financial Institutions, Designated Non-Financial Businesses and Professions and Virtual Asset Service Providers with the results of the analysis of the information provided on the reports received by the Unit, in order to enhance the effectiveness of the implementation of procedures to confront crime and detect suspicious transactions.
    
5. Cooperating and coordinating with the Supervisory Authorities by referring the results of the analyzes they conduct related to the quality of the received reports, in order to ensure the compliance of Financial Institutions, Designated Non-Financial Businesses and Professions, and Virtual Asset Service Providers with the procedures for confronting crime.
    
6. Refer the data related to the reports and the results of the analysis it conducts and other relevant information to Law Enforcement Authorities, when there are sufficient grounds to suspect their connection with the Crime, so as to take the necessary action in their respect.
    
7. Provide judicial and Law Enforcement Authorities with Crime-related information and other information that they can be obtain from Financial Intelligence Units in other countries automatically or upon request.
    

The FIU shall be responsible for carrying out its duties at the international level as follows:

1. Exchanging information with its FIU counterparts in other countries on STRs or any other information the FIU has the power to obtain or access, whether directly or indirectly, as per the international agreements to which the State is a party or any memorandums of understanding the FIU has entered into with FIU counterparts to regulate its cooperation with them or on the condition of reciprocity.
    
2. Reporting to its FIU counterparts the outcomes of using the submitted information and analysis conducted based on that information.
    
3. The information specified in Clauses (1) and (2) of this Article may not be used except for Crime-combatting purposes and may not be disclosed to any third party without the FIU’s approval.
    
4. Following up on the developments relating to Money Laundering and Terrorism Financing crimes through the relevant regional and international organisations and bodies and participating in related meetings.
    
5. Following up with the requirements of the Egmont Group, as well as participating and attending its meetings as a member of the group.