Mauritius – The Egmont Working Groups and Committee Meetings 2020 took place from January 27th to 31st 2020 in Mauritius. Over 300 participants, comprised of Egmont Group members, international partners and observers, attended this event hosted by FIU-Mauritius.

Through its Working Groups, the Egmont Group aims to realize its goal of development, cooperation and the sharing of expertise. These meetings provide the Working Groups with the opportunity to collaborate on projects and strategic initiatives.

During the meetings in Mauritius, the Information Exchange Working Group (IEWG) advanced its work on several important operational projects which aim to:

-Effectively address the laundering of the proceeds of serious tax crimes.

-Identify funds associated with online sexual exploitation and abuse of children.

-Establish and proactively tackle large scale cross-border ML schemes.

The IEWG membership also discussed the status of other ongoing projects and identified new areas of

interest in order to effectively support FIU needs. The work includes determining ML/TF risks which are related to the abuse of virtual assets and are interconnected with FinTech business models. Looking towards the future, IEWG started new work to identify Cyber-enabled crime typologies and risks in order to enhance FIU-FinTech cooperation and the role of FIUs for more effective asset recovery of criminal proceeds.

The Membership, Support and Compliance Working Group (MSCWG) reviewed Egmont Group candidate-

FIUs’ membership application from operational and legal perspectives.

The  Policy  and Procedures  Working  Group  (PPWG) established  and  discussed  recommendations  to

address existing impediments to information exchange between Egmont FIUs. Moreover, PPWG identified and defined terminology which have conflicting interpretations when used by Egmont Group FIUs during information exchanges.

The Technical Assistance and Training Working Group (TATWG) determined and prioritized the topic of

“Cryptocurrencies regulation and tracking for FIUs” for the training needs of Egmont Group members. TATWG will organize an operation training session on the topic of “Cybercrime and FinTech” during the Mexico Plenary meeting.

Throughout the week, the Egmont Centre of FIU Excellence and Leadership (ECOFEL) hosted several workshops. Topics included Illegal Wildlife Trade and an introduction to ECOFEL’s new eLearning platform.

All members of the Egmont Group of Financial Intelligence Units are grateful to FIU-Mauritius for hosting the 2020 Working Group Meetings. The Egmont Group acknowledges and appreciates the dedication of our host, FIU-Mauritius, led by its Head of FIU, Mr. Guillaume Ollivry.

Update on Mr. Mariano Federici

As of January 26th 2020, Mr. Mariano Federici’s mandate as Chair of Egmont Group ended as his term as Head of FIU Argentina was not renewed by the new government of Argentina that took office on December 10th 2019.

The Egmont Group takes this opportunity to  thank Mr. Federici for his leadership, dedication  and achievements during his tenure as Regional Representative for the Americas Region, Egmont Committee Vice-Chair and finally, as Egmont Group Chair.

The Heads of FIU have appointed the Vice-Chair of the Egmont Committee, Mrs. Hennie Verbeek-Kusters (Head of FIU The Netherlands), to act as Interim Chair until the end of the Egmont Group Plenary meeting in Mexico (July 2020).

Background

The Egmont Group is comprised of 164 Financial Intelligence Units (FIUs). It provides a platform for the secure exchange of expertise and financial intelligence on combating money laundering and terrorist financing. FIUs are uniquely positioned to cooperate and support national and international efforts to counter terrorist financing and are the trusted gateway for sharing financial information domestically and internationally in accordance with global AML/CTF standards.

https://www.egmontgroup.org

Date: 
Saturday, February 8, 2020