Any financial intelligence unit (FIU) that is a national centre for the receipt and analysis of suspicious transaction reports and other relevant information, and for the dissemination of the analysis’ results is eligible to apply to become an Egmont Group member FIU. The membership application process includes several stages.
Step 1: Application
Step 2: Identifying Sponsor FIUs
Step 3: Monitoring Phase
Step 4: Preparation for the Final Onsite Visit
Step 5: Final Onsite Visit
Step 6: After the Final Onsite Visit
Step 7: Applicant FIU Invitation to Attend the Egmont Plenary
Step 8: Heads of FIUs Acceptance
Step 1: Application
Submit an unconditional Expression of Interest (EOI) to the Executive Secretary of the Egmont Group Secretariat (EGS), using a EOI-Template-Letter-2022 membership request letter template that should include the following:
- Letter of request
- Copies of anti-money laundering and counter-financing of terrorism (AML-CFT) legislation, and other relevant documents on the FIU’s establishment, translated to English
- General FIU information
Step 2: Identifying Sponsor FIUs
The EGS will submit the EOI documents to the Chair of the Membership, Support & Compliance Working Group (MSCWG) and the corresponding Egmont Regional Representative(s) in which the applicant FIU is located. The MSCWG discusses potential sponsor options in close consultation with the applicant FIU, noting that a sponsor FIU’s task is to guide and support the applicant FIU through the Egmont Group membership application process.
Sponsor FIUs must be Egmont Group members and members of the MSCWG. After confirming each sponsor FIU, the Chair of the MSCWG responds to the applicant FIU (copying the EGS and Regional Representative) informing them of the Egmont Group members who volunteered as their sponsor.
Step 3: Monitoring Phase
The monitoring process by the sponsors includes reviewing the information provided in the EOI and collecting basic information such as additional contact details, confirming the FIU’s interest level in joining the Egmont Group, any other information on the FIU’s status and operation, and any further relevant legislation or regulatory material.
The monitoring activities are ongoing and may include providing technical advice and assistance and additional Egmont Group information. There is no fixed period or specified monitoring phase procedures. In addition, mutually agreed-upon onsite visits also form part of the monitoring activities.
The sponsors are the official and main Egmont Group contact point for the applicant FIU during this period and any correspondence between the Egmont Group and the applicant FIU should go through them.
Step 4: Preparation for the Final Onsite Visit
When the sponsors identify an appropriate time for a (final) onsite visit to confirm the operational and legal status of the FIU, they will inform the Chair of the MSCWG of the dates and forward any relevant documents or legislation to the MSCWG Chair.
Sponsors must receive approval from the Chair of the MSCWG to conduct the (final) onsite visit. Once approval is received, the EGS sends the Egmont Group Questionnaire to the applicant FIU with the Egmont Group’s basic documents and an accompanying letter. This letter informs the candidate that the questionnaire should be returned within one week of the onsite visit and that they will have to commit in writing to the Egmont Group Charter when the Heads endorse the application. The letter also informs the candidate of their future contribution obligation.
Step 5: Final Onsite Visit
During the onsite visit, the sponsors and applicant FIU will discuss relevant operational issues. They should also complete the Egmont Group Questionnaire and clarify any issues raised about their legislation. After the final onsite visit, the sponsors will produce an Onsite Assessment Report (OAR), describing their findings and addressing issues raised in previous steps. The report should present a clear conclusion as to whether the applicant FIU meets the legal and operational status criteria for membership consideration and must remain confidential and not be disclosed to the applicant FIU.
Step 6: After the Final Onsite Visit
During the subsequent working group (WG) meetings after the final onsite visit, the MSCWG discusses the candidate’s application and the sponsors’ findings concerning the operational and legal aspects. Candidates being considered for the first time by the working groups cannot be recommended to the Heads of FIU during the same session. Consequently, Heads of FIU only consider candidates who have already been examined by the working groups, at least, during their previous session.
During the WG meetings, the MSCWG Chair and Vice-Chair consults the WG members and discusses any concerns, questions, and conclusions. Immediate additional clarification may also be sought, and feedback provided. By the end of the WG meetings, if the MSCWG has reached a positive conclusion, the Chair and Vice-Chair will recommend that the membership application be put forward to the Heads of FIUs.
Step 7: Applicant FIU Invitation to Attend the Egmont Plenary
The sponsor FIUs may recommend that the Egmont Group invite an applicant FIU to attend an Egmont Group Plenary session. An applicant FIU invitation should be encouraging for an applicant FIU to continue their Egmont membership pursuit. The applicant FIU should not consider this as a “standing invitation” within the Egmont Group and it does not provide any guarantees on pending membership decisions.
The EGS will inform the applicant FIU which sessions it may attend during the Egmont Group Plenary.
Step 8: Heads of FIUs Acceptance
Subject to the Heads of FIUs endorsing the MSCWG’s recommendation, the applicant becomes a full Egmont member FIU. Membership shall be effective upon committing in writing to the Egmont Group Charter. At the same time, the new member FIU will receive information from the EGS on its annual membership contribution and the connection process for the Egmont Secure Website (ESW).
