The Egmont Group is a global organization of 177 Financial Intelligence Units (FIUs) that provides a platform for the secure exchange of expertise and financial intelligence to combat money laundering and terrorist financing.
The funding for the Egmont Group Secretariat is provided by the Egmont Group’s annual budget, to which member FIUs contribute through membership fees. These contributions consist of a base amount and an additional amount calculated using a progressive rate approach, based on a ratio of GDP to GDP per capita.
In addition to the regular budget, the Egmont Group also accepts Additional Voluntary Contributions (AVCs) from its members, which can be either financial or in-kind (secondments).
AVCs are directly reinvested into supporting the group’s members, allowing the Egmont Group to implement various projects, training programs, and capacity-building initiatives that enhance the effectiveness and operational capability of its member FIUs. The Egmont Group does not accept AVCs from private sector organizations, Non-Governmental Organizations/Non-Profit Organizations, private legal entities, or individuals. Only contributions that receive approval from the Egmont Heads of FIU are accepted. The HoFIUs agree on all business plans and associated budget proposals as well as receive regular reports on their execution. This collaborative approach ensures transparency and accountability in the management of funds, enabling the Egmont Group to effectively allocate resources and support its global mission.
Funding decisions within the Egmont Group are always made by consensus among FIU members, upholding the principle of equal treatment regarding membership contributions and additional voluntary contributions.
How funds are used
As per the Charter, approved by the Heads of FIUs (HoFIU), the Egmont Group, is dedicated to:
- improving an effective exchange of information upon request and spontaneously to combat money laundering and financing of terrorism,
- exchanging information on their respective experiences to promote the development of effective FIUs, and
- supporting the Egmont Group members to enhance their capacity by promoting the operational independence of FIUs, offering training and technical assistance, promoting personnel exchanges, developing operational and strategic collaboration, and maintaining and granting access to a secure channel for information exchange between Egmont Group FIUs.
The contributions from members empower the Egmont Group to carry out its core functions effectively, which include:
- Typology Reports and Indicators: similar to numerous global partners, the Egmont Group regularly generates typology reports, red flags, and indicators to enhance collective AML/CFT knowledge and expertise among its members.
- Capacity Building: The Egmont Group continuously enhances the capabilities of its member FIUs through various initiatives carried out by its four Working Groups and eight Regional Groups.
- Promoting Operational Cooperation: and most critically, the Egmont group promotes operational cooperation among its members via its secure network. This tool enables 177 FIUs globally to share financial intelligence daily and handle tens of thousands of operational cases annually in a secured manner.
Additionally, the funding enables the Egmont Group to achieve its 2022-2027 strategic goals, which includes:
- Enhancing the framework for effective information exchange between FIUs,
- Strengthening cooperation with international partner organizations,
- Developing and promote knowledge on new or emerging AML/CFT methods and trends, good practices, and Egmont Group requirements, and
- Enhancing support to Group members and candidate FIUs.
The collective efforts and sustained funding ensure that the Egmont Group remains at the forefront of the global fight against money laundering and terrorist financing. By continuously adapting to new challenges and fostering a spirit of collaboration, the Group not only enhances the effectiveness of its member FIUs but also contributes significantly to the integrity and security of the international financial system.
Funding for the Egmont Centre of FIU Excellence and Leadership (ECOFEL) program is managed separately from the Egmont Group Secretariat funding. For more information on ECOFEL’s funding, please visit ecofel.org/donors.
