Monaco Hosts the Financial Cooperation Forum of the French-speaking FIUs of the EGMONT Group

From 3 to 5 November, on the initiative of Mr. Michel Hunault, Director of the Service d'Information et de Contrôle sur les Circuits Financiers (SICCFIN) (Service for Information and Monitoring of Financial Networks) in Monaco and Chair of the EGMONT Group's French-speaking FIUs, a meeting was held of almost thirty FIUs representing Europe, Switzerland, Africa, the Maghreb and the Middle East, and North America, in particular Canada. The meeting was attended by 100 or so participants, as well as representatives of the main regulatory bodies: the AMF, MONEYVAL, ECOFEL, EGMONT, UNODC, and some banks.

H.S.H. Prince Albert II opened the Forum, emphasising the role of the FIUs, "because crime knows no borders between States, nor health crisis ... corruption creates inequalities; we are responsible for preventing them, among the group of nations that respect the FATF international standards." Fundamental issues relating to combating money laundering and the financing of terrorism (AML/CFT) were discussed.

The topics debated at themed workshops and examined in detail in plenary sessions included the challenges of AML/CFT for world security and stability, combating the illegal trafficking of cultural goods, international judicial cooperation, major trends in global financial crime, the prevention of financial crime in sports competitions, the security of information exchanges, cooperation and tax transparency, the tools at the service of AML/CFT and the National Risk Assessment, and the challenge of crypto assets in the light of regulation.

* The EGMONT group, which was created in 1995, is an operational exchange forum for financial intelligence units.

Its main aims, as set out in the Egmont Group Charter, are:

• To develop international cooperation through the exchange of information.

• To increase the effectiveness of FIUs by providing training and exchange programmes for FIU staff.

• To promote the operational autonomy of FIUs.

• To promote the creation of financial intelligence units that comply with international standards in combating money laundering and the financing of terrorism.

All exchanges are carried out via a secure data network, the Egmont Secure Web, which is maintained by the US financial intelligence unit FINCEN.

The Egmont Group currently has 164 members.

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