The Egmont Group of Financial Intelligence Units is an

international organization An international organization or international organisation (see spelling differences), also known as an intergovernmental organization or an international institution, is a stable set of norms and rules meant to govern the behavior of states a ...

that facilitates cooperation and intelligence sharing between national

financial intelligence Financial intelligence (FININT) is the gathering of information about the financial affairs of entities of interest, to understand their nature and capabilities, and predict their intentions. Generally the term applies in the context of law enfo ...

units (FIUs) to investigate and prevent

money laundering Money laundering is the process of concealing the origin of money, obtained from illicit activities such as drug trafficking, corruption, embezzlement or gambling, by converting it into a legitimate source. It is a crime in many jurisdicti ...

and

terrorist financing Terrorism financing is the provision of funds or providing financial support to individual terrorists or non-state actors. Most countries have implemented measures to counter terrorism financing (CTF) often as part of their money laundering l ...

. National FIUs collect information on suspicious or unusual financial activity and are responsible for processing and analyzing the information received. FIUs are normally not law enforcement agencies themselves, findings are shared with appropriate law enforcement or prosecution bodies if sufficient evidence of unlawful activity is found. The Egmont Group is headquartered in

Toronto Toronto ( ; or ) is the capital city of the Canadian province of Ontario. With a recorded population of 2,794,356 in 2021, it is the most populous city in Canada and the fourth most populous city in North America. The city is the anch ...

Ontario Ontario ( ; ) is one of the thirteen provinces and territories of Canada.Ontario is located in the geographic eastern half of Canada, but it has historically and politically been considered to be part of Central Canada. Located in Central Ca ...

Canada Canada is a country in North America. Its ten provinces and three territories extend from the Atlantic Ocean to the Pacific Ocean and northward into the Arctic Ocean, covering over , making it the world's second-largest country by to ...

History

The Egmont Group was formed in 1995 as an informal network of 24 national FIUs, taking its name from the Egmont Palace in

Brussels Brussels (french: Bruxelles or ; nl, Brussel ), officially the Brussels-Capital Region (All text and all but one graphic show the English name as Brussels-Capital Region.) (french: link=no, Région de Bruxelles-Capitale; nl, link=no, Bruss ...

where the group's founding meeting took place. The Egmont Group

Secretariat Secretariat may refer to: * Secretariat (administrative office) * Secretariat (horse) Secretariat (March 30, 1970 – October 4, 1989), also known as Big Red, was a champion American thoroughbred racehorse who is the ninth winner of the Ame ...

established its permanent headquarters in

on 15 February 2008. The Secretariat also maintains additional offices in the Canadian capital

Ottawa Ottawa (, ; Canadian French: ) is the capital city of Canada. It is located at the confluence of the Ottawa River and the Rideau River in the southern portion of the province of Ontario. Ottawa borders Gatineau, Quebec, and forms the c ...

Purpose

The goal of the Egmont Group is to provide a forum for FIUs around the world to improve cooperation in the fight against money laundering and financing of terrorism and to foster the implementation of domestic programs in this field. The Egmont Group provides support to member FIUs by: * expanding and systematizing international cooperation in the reciprocal exchange of information * increasing the effectiveness of FIUs by offering training and promoting personnel exchanges to improve the expertise and capabilities of personnel employed by FIUs * fostering better and secure communication among FIUs through the application of technology, such as the Egmont Secure Web (ESW) * fostering increased coordination and support among the operational divisions of member FIUs * promoting the operational autonomy of FIUs * promoting the establishment of FIUs in conjunction with jurisdictions with an AML/ CFT program in place, or in areas with a program in the early stages of development

Member FIUs

The US Treasury Department defines an FIU as "a central, national agency responsible for receiving (and, as permitted, requesting), analyzing and disseminating to the competent authorities, disclosures of financial information: concerning suspected proceeds of crime and potential financing of terrorism, or required by national legislation or regulation, in order to counter money laundering and terrorism financing." The current member FIUs of the group are:

Notable non-member observers

The Egmont Groups admits governmental or intergovernmental organizations as non-member observers whose roles relate to preventing money-laundering and/or the financing of terrorism. Several notable organizations are observers, including: *

Common Market for Eastern and Southern Africa The Common Market for Eastern and Southern Africa (COMESA) is a regional economic community in Africa with twenty-one member states stretching from Tunisia to Eswatini. COMESA was formed in December 1994, replacing a Preferential Trade Area whic ...

Cooperation Council for the Arab States of the Gulf The Cooperation Council for the Arab States of the Gulf ( ar, مجلس التعاون لدول العربية الخليج ), also known as the Gulf Cooperation Council (GCC; ar, مجلس التعاون الخليجي), is a regional, interg ...

European Commission The European Commission (EC) is the executive of the European Union (EU). It operates as a cabinet government, with 27 members of the Commission (informally known as "Commissioners") headed by a President. It includes an administrative body ...

* Europol *

International Monetary Fund The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution, headquartered in Washington, D.C., consisting of 190 countries. Its stated mission is "working to foster glo ...

Organization for Security and Co-operation in Europe The Organization for Security and Co-operation in Europe (OSCE) is the world's largest regional security-oriented intergovernmental organization with observer status at the United Nations. Its mandate includes issues such as arms control, pro ...

United Nations Office on Drugs and Crime The United Nations Office on Drugs and Crime (UNODC; French: ''Office des Nations unies contre la drogue et le crime'') is a United Nations office that was established in 1997 as the Office for Drug Control and Crime Prevention by combining the ...

World Bank The World Bank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purpose of pursuing capital projects. The World Bank is the collective name for the Inte ...

World Customs Organization The World Customs Organization (WCO) is an intergovernmental organization headquartered in Brussels, Belgium. The WCO works on customs-related matters including the development of international conventions, instruments, and tools on topics su ...

References

External links