GIF representatives participated in the Egmont Group Plenary 2023
The 29th Egmont Group Plenary was held from 3 to 7 July 2023 in United Arab Emirates. The Financial Intelligence Office (GIF) attended the meeting as a member of the Egmont Group. The meetings aim at promoting the exchange of financial intelligence and cooperation among financial intelligence units in each member region, and strengthening the ability to detect and analyze emerging financial crimes.
GIF representatives participated in the Egmont Group working group meetings, regional group meetings, training workshops and the Plenary. A number of AML/CFT topics were discussed in the meetings, including the abuse of non-profit organizations for terrorist financing purpose, 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. By participating in these meetings and training sessions, GIF 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, and negotiated the feasibility of 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, so as 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.
