Financial Intelligence Analysis Unit (FIAU) of Malta Hosts Over Four Hundred Egmont Group Representatives from Around the Globe
ST. JULIAN’S, Malta – The 24th annual Working and Regional Group Meetings is taking place between January 29 and February 2, 2024. Over 400 Egmont Group (EG) representatives, international partners, and observers are participating in the meetings in St. Julian’s, Malta, graciously hosted by the Financial Intelligence Analysis Unit (FIAU) of Malta.
As a global organisation, the EG both facilitates and prompts the exchange of information, knowledge, and cooperation amongst member FIUs and provides them with a secure platform to exchange expertise and financial intelligence to combat money laundering (ML), associated predicate offences, and terrorist financing (TF).
“The Working and Regional Groups contribute significantly to the success of the Egmont Group’s overall goal of strengthening information-sharing mechanisms among its members to combat money laundering, associated predicate offences, and terrorist financing,” says Mrs. Elżbieta Franków-Jaśkiewicz, Interim Chair of the Egmont Group of Financial Intelligence Units. “This week’s meetings serve as an important tool to facilitate communication, collaboration, decision-making, and overall team effectiveness.”
The Egmont Group’s central goals are to enhance member capabilities and improve information and expertise sharing among them. The Egmont Group’s four unique Working Groups, the Information Exchange Working Group, Membership, Support, and Compliance Working Group, Policy and Procedures Working Group, and Technical Assistance and Training Working Group, help achieve these goals, each with its own mandate to support member FIUs. In addition, the Regional Groups assist the Egmont Group with accomplishing its goals of development, cooperation, and sharing of expertise on a regional level.
Delegates are navigating a busy week and working through a full agenda, collaborating on key projects and initiatives, including:
- Progressing the implementation of 2022-2027 EG’s Strategy,
- Strengthening the organisation through the review and endorsement of FIU candidate memberships and the selection of several leadership positions,
- Identifying the training and technical assistance needs of member FIUs and designing initiatives to address them,
- Looking into relevant AML/CFT risk themes, including the role of FIUs in the Asset recovery process, as well as the FIUs’ role in preventing UNSCR’s TF/PF Sanctions Evasion, and in preventing the Abuse of NPOs for TF Purposes,
- Reviewing operational policy and strategic issues,
- Leveraging new technology further to advance information exchange for FIUs, including cloud-based services and the use of advanced IT analytical tools.
Additionally, the Heads of FIU (HoFIU) will meet on Thursday, 1 February 2024, to discuss future technology developments for EG and FIUs in terms of information sharing.
“FIAU Malta is delighted to host the Working and Regional Group Meetings in St. Julian’s, Malta, for a week-long opportunity to create meaningful connections and as a platform for shared insights,” expressed Alfred Zammit, Director of the Financial Intelligence Analysis Unit (FIAU). “Malta, with its rich culture, deep history, and warm hospitality, serves as the perfect backdrop for our gathering. We look forward to a week of engaging, collaborative efforts amongst colleagues.”
The Egmont Group of Financial Intelligence Units is always grateful to countries who host the ever-important Egmont Group Meetings and Plenaries. The Egmont Group thanks the FIAU Malta for hosting the 24th Working and Regional Group Meetings and thanks the French Financial Intelligence Unit (TRACFIN), who will be hosting the Egmont Group’s Annual Plenary in the Spring of 2024.
FIUs annually receive thousands of suspicious transaction reports and other reports with links to other countries. Therefore, international partner collaboration is crucial and is the reason why, in 1995, facilitating and promoting information exchanges among FIUs formed the framework for today’s widely recognised and highly respected international organisation, the EG, currently consisting of 170 members and counting.
The Egmont Group of Financial Intelligence Units connects FIUs across the globe and provides a secure platform for exchanging expertise and financial intelligence to combat international money laundering (ML), associated predicate offences, and terrorist financing (TF).
The Financial Intelligence Analysis Unit is Malta’s national central agency that is responsible for the collection, collation, processing, analysis, and dissemination of information to combat money laundering and the funding of terrorism.
Egmont Group of Financial Intelligence Units