Representatives of the Financial Intelligence Office (GIF) attended the 29th Egmont Group Plenary from July 3 to 7 in the UAE, collecting and sharing experiences with global counterparts.
The plenary promoted the exchange of financial intelligence and cooperation among financial intelligence units in each member region, and strengthened the ability to detect and analyze emerging financial crimes.
GIF representatives participated in many sessions, such as the Egmont Group working group meetings, regional group meetings, training workshops and the Plenary.
A number of anti-money laundering (AML) and counter financing terrorism (CFT) topics were discussed in the meetings. Topics included the abuse of non-profit organizations for terrorist financing purposes, methods of identifying cyber-enabled fraud and tracing virtual assets as well as money laundering linked to modern slavery. In addition, technical assistance and solutions were provided to members experiencing difficulties in collecting or sharing intelligence.
The GIF stated that by participating in these meetings and training sessions, its representatives deepened their understanding and appreciation of the latest information and international trends in current financial crimes, which play an important role in the effective prevention and suppression of ML/TF.
GIF representatives also negotiated bilateral intelligence exchanges with a number of financial intelligence units.
The Egmont Group is committed to facilitating exchanges between various financial intelligence units and law enforcement agencies and to providing a secure platform for the exchange of expertise and financial intelligence to assist in the fight against ML/TF and related crimes.
Currently, financial intelligence units from more than 160 jurisdictions are members of the Egmont Group. With the expectation of achieving effective detection, prevention and interception of serious financial crime and money laundering activities, GIF has been actively participating in international conferences and sharing the latest updates and international trends with domestic sectors, regulators and law enforcement agencies. AL
