Phoenix Compliance Essentials #11
Today’s focus: the Egmont Group
➡️ Established in 1995, the Egmont Group is now one of the world’s largest operational cooperation networks in the field of AML/CFT. Originally composed of 24 Financial Intelligence Units (FIUs), it now brings together 182 FIUs worldwide.
➡️ Its mission is to facilitate the secure exchange of financial intelligence, promote the harmonisation of practices and strengthen international cooperation.
➡️ Main activities:
– Facilitate the exchange of information through the Egmont Secure Web (ESW),
– Strengthen cooperation and reciprocity among FIUs,
– Enhance operational capabilities through training and the sharing of best practices,
– Encourage the establishment of new FIUs in emerging jurisdictions,
– Produce guidance and case studies to support financial investigations.
➡️ Key reference tools:
– The Egmont Group Charter (governance principles),
– The Principles for Information Exchange (international standards),
– The Operational Guidance (guidance on the collection, analysis and dissemination of information),
– The publication “FIUs in Action: 100 Cases” (real-life AML/CFT case studies and typologies).
➡️ Continuous development:
To keep pace with evolving threats, the Egmont Group regularly publishes strategic documents, including the Strategic Plan 2022–2027.
👉 And what about Monaco?
A member since 1997, the Principality is represented by the Monegasque Financial Security Authority (AMSF). This membership enables Monaco to:
– Access the global FIU network,
– Contribute to the dismantling of illicit financial networks,
– Strengthen its compliance with FATF standards.
For more than 25 years, Monaco’s commitment has demonstrated its determination to play an active role in effective international cooperation.
