The 24th Egmont Group Plenary
Meeting concluded. More than 110 financial intelligence organizations and over
350 representations attended the event.
In 2009, the Macau Financial
Intelligence Office (GIF) joined the Egmont Group, which has over 150 members.
The Secretary for Finance and
Economy, Lionel Leong, made a short speech at the beginning of the meeting’s
opening ceremony. “GIF has been set up accordingly to collect, analyze, and disseminate
information in relation to suspicious transactions. GIF also co-ordinates the
interdepartmental anti-money laundering and terrorist financing working group,
which consists of 15 supervisory, judicial and law enforcement agencies,” said
He added that, “through
participation in the Egmont Group, both GIF and Macau have gained from the
experience of fellow members on their fight against money laundering and
terrorist financing. The effective sharing of information through the Egmont
Secure Web platform has undoubtedly multiplied the knowledge of GIF and law
enforcement agencies of Macau in these years, [also increasing] their analysis and investigation of suspicious money laundering
and other predicate crimes.”
Since its establishment, GIF has
signed 20 cooperation agreements with fellow FIUs, according to Leong,
including those in Asia Pacific, Europe and North America regions. One of these
agreements was signed in the plenary meeting currently underway.
As mentioned by Leong, the
Egmont Group has also played an important role in facilitating the process.
Leong stated that “we are looking forward to more agreements with other
“2017 is a very important year
for Macau from the perspective of AML/CFT work,” said Leong, adding that the
moment is opportune, as Macau has just amended two laws on anti-money
laundering and terrorist financing.
“At the end of the year, Macau
will also adopt the cross-border cash declaration system and be in line with
international practices,” declared Leong. He concluded by saying that “in two
weeks’ time, the APG Mutual Evaluation Report of Macau will also be adopted in
the APG Annual Meeting, for which many entities in the public and private
sectors of Macau have been working very hard for years to prepare.”