Experience sharing in anti-money laundering by more than 300 delegates from FIUs around the world
作者:管理员    发布于:2017-07-28 14:45:54    文字:【】【】【

Abstract: Financial Intelligence Office hosts the Egmont Group Plenary Meeting in Macao


According to the report from the Financial Intelligence Office, it is hosting the 24th Egmont Group Plenary Meeting in Macao from 2 July to 7 July 2017 at the Conrad Macao Hotel, Cotai Strip. More than 350 delegates from over 110 members of financial intelligence units (FIUs), together with delegates from international organizations and other observers, will gather in Macao to discuss anti-money laundering (AML) and counter-terrorist financing (CTF) issues of common interest and share their experiences.


The Group promotes information exchange


The Egmont Group is a united body of FIUs around the world. It was established in 1995 from a group of FIUs which are specialized in analysis of financial intelligence and suspicious transactions to support the investigation of financial and other types of crimes. The aim of Egmont Group is to facilitate exchange of intelligence and cooperation among its members, and to provide support and training to FIUs and other stakeholders to assist their establishments and operations. Through these years, the Egmont Group has developed into a body of 154 members, and has become an effective platform for members to exchange information and experience in the fight against money laundering (ML), terrorist financing (TF) and financing weapons of mass destruction (WMD) proliferation, and improve the understanding of ML/TF risks among its stakeholders. The Egmont Group usually holds its plenary meeting in summer to discuss important strategic and operational issues.


In 2009, the Financial Intelligence Office joined the Egmont Group and became one of its members. Through participation in the Egmont Group, both the Financial Intelligence Office and Macao as a whole have gained from the experience of fellow members on the fight against money laundering and terrorist financing. The effective sharing of information through the Egmont platform has undoubtedly raised the competence of the Financial Intelligence Office and law enforcement agencies of Macao over these years in their analysis and investigation of suspicious money laundering and other predicate crimes.


Macao supports counter-terrorist financing


Since its establishment, the Financial Intelligence Office has signed 19 cooperation agreements with fellow FIUs, including those in Asia Pacific, Eurasia, Europe and North America, and is going to sign another new agreement with a FIU during the meeting. During the process the Egmont Group has also played an important role in facilitating the process, and more agreements with other FIUs are expected.


2017 is a very important year for Macao from the perspective of AML/CTF work. The revisions of the laws number 2/2006 and 3/2006 on anti-money laundering and counter-terrorist financing were passed and became effective in May, which marks a crucial progress in the AML/CTF regime of Macao and its compliance with international standards. At the end of the year, Macao will also execute the cross-border cash declaration system and be in line with international practices.


Before all these, the Asset Freezing Regime was already passed in 2016 which equips Macao with a powerful tool in the prevention against terrorist financing. And with this law, the Asset Freezing Coordination Commission has been formed with the Financial Intelligence Office as its Secretariat. The Asia/Pacific Group on Money Laundering (APG) Mutual Evaluation Report of Macao will also be released soon. The works above demonstrate Macao’s strong commitment in compliance with international AML/CTF standards, and the hosting of Egmont Group Plenary Meeting also shows Macao’s active participation in the global AML/CTF efforts.


During the coming week, the Egmont Group members will discuss different strategic development and operational issues, including a number of projects and plans under development to better their works against money laundering and terrorist financing.


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