WCO, Egmont Group and Interpol successfully conclude first Latin American AML/CFT operation
The World Customs Organisation (WCO), Egmont Group of Financial Intelligence Units (FIUs) and Interpol have successfully concluded their first anti-money laundering and counter financing terrorism financing (AML/CTF) joint investigation in the Western Hemisphere. Operation Tentacle-Latin America revealed extensive illicit movements of gold, silver, diamonds and…
Information from financial institutions a core function for FIUs says Egmont Group
Analysis of information received from financial institutions is a core function of financial intelligence units (FIUs), particularly in the asset recovery process according to a new report by the Egmont Group of FIUs. The group facilitates and prompts the global exchange of information, knowledge, and…
Egmont Group publishes report to help identify financial transactions linked with financing of extreme right-wing terrorism
The Information Exchange Working Group (IEWG) of the Egmont Group of Financial Intelligence Units (FIUs) has published a report to help agencies proactively identify financial transactions likely to be linked to the financing of extreme right-wing terrorism. The report, FIUs’ Capabilities and Involvement in the…
Liberia and Sierra Leone endorse joint communiqué on border security and call for more regional cooperation
Liberia and Sierra Leone have endorsed a joint communiqué signalling their intent to cooperate to introduce tighter controls on their shared borders to ensure transparent currency declarations and curb illicit and illegal cross-border activities, including trade-based money laundering (TBML) and illegal trading of precious stones…
Afghan FIU disconnected from international network against money laundering and terrorist financing
The Financial Transactions and Reports Analysis Centre of Afghanistan (FinTRACA) from has been disconnected from the Egmont Secure Web (ESW) by the Egmont Group of Financial Intelligence Units (FIUs). In a brief statement the Egmont Group said it disconnected the Afghan FIU on 15 August…
European parliament calls for an EU FIU and more funding for AML efforts
The European Commission has presented an ambitious package of four legislative proposals to strengthen the European Union’s (EU’s) anti-money laundering and counter financing of terrorism (AML/CFT) rules, which includes the creation of a new EU authority to fight money laundering (Trade-based Financial Crime, 21 July 202, New…
New authority plans to establish EU-level AML/CFT supervision and coordinate FIU efforts
A new European Union (EU) authority to fight money laundering will likely oversee the establishment of EU-level anti-money laundering and counter financing of terrorism (AML/CFT) supervision if a package of four legislative proposals to strengthen the union’s (AML/CFT) rules is adopted (Trade-based Financial Crime, 21…
All G20 resources on anti-corruption published on new web site, ACWG – FATF contemplates money laundering and beneficial ownership
A dedicated website has been launched collecting all the resources adopted by the G20 on anti-corruption over the years to make them more accessible. The website was launched at the first meeting of the Anti-Corruption Working Group (ACWG) which also promoted a joint G20 ACWG-Financial…
FATF posts video of TBML webinar following landmark publications
The Financial Action Task Force (FATF) has posted a 90 minute video of a webinar it held on 18 March 2021 to discuss the most recent trade-based money laundering trends (TBML) and developments. Underlining what appears to an increasingly sharp focus on TBML by the…
FATF report reveals FIUs’ alternative approaches
A specific focus on financial intelligence units (FIUs) features in the new Financial Action Task Force (FATF) report, Trade-Based Money Laundering, Trends and Developments (Trade-based Financial Crime, 11 December 2020). The FATF prepared the report for the first time in collaboration with the Egmont Group…
