Financial crimes are one of the contemporary concerns of criminal justice administration systems at National and international level. The crimes; which are being committed with the motive to gain benefit from crime, are resulting in serious economic and security problems against states and societies. Leaving such serious and grave crimes undetected without deploying effective criminal investigation system would worsen the problems. Although different techniques of criminal investigation might work to investigate such crimes, financial investigation takes the lead as a technique of effectively detecting and controlling such crimes. To trace suspects of such crimes, to freeze and confiscate proceeds of financial crimes and to detect the scope the crimes, “follow the money” is the important way of criminal investigation technique. Ethiopia has signed different international treaties regarding financial crimes in which those international standards have promoted the application of financial investigation. Proclamation No.780/2013 of Ethiopia also incorporates financial investigation as a key investigation technique to investigate Money laundering and financing terrorism crimes. In deed the draft criminal procedure and evidence code of the country incorporated bank account investigation as one special criminal investigation technique. These and other laws have shown that financial investigation has a legal recognition and coverage in Ethiopian criminal justice administration system. Despite this fact, it is not common to see proceeds of financial crimes being effectively detected and controlled. Many financial crimes are left un-detected and law enforcement organs failed to identify perpetrators. The researcher observed such gaps and conducted the research based on document examination, interview and questioner as sources of data to identify and analyze the application of financial investigation on financial crimes under the FDRE ministry of justice, corruption crimes follower directorate general. Although certain efforts has been started to apply financial investigation in financial crimes investigation in Ethiopia, as this research proves a lot is left for deploying financial investigation effectively. Give minor concern to financial investigation, lack of sufficient knowledge and skill by investigator and public prosecutors in applying financial investigation and interpretation of financial information, the poor application of KYC by financial and designated non-financial business and professions hinders the application of financial investigation.