FAQs

The Egmont Group provides its 177 member FIUs with a platform for the secure exchange of information to combat money laundering, terrorist financing and other predicate crimes.

The Egmont Group’s main role is to strengthen information sharing mechanisms among its member FIUs.

The Egmont Group’s main goals are to improve information exchanges and sharing mechanisms among member FIUs, as well as support its members by enhancing their capabilities.

To promote integrity, transparency, and accountability among its members, the Egmont Group supports the sharing of financial intelligence between member FIUs and believes it is critical, and has become the cornerstone for international anti-money laundering and counter-terrorism financing efforts.

The EG was created in 1995.

Having an FIU is an international standard e international instruments like the Palermo Convention Against Organized Crime and the Merida Convention against Corruption.

The Egmont Group has 177 member FIUs that are committed to work collaboratively to fight ML/TF. The EG continues to strengthen its membership through outreach efforts in geographic regions of strategic focus, including Africa, Asia and the Pacific, and the Middle East and Northern Africa.

Please visit our EG Membership Application page for more information on how to become an Egmont Group member.

The Egmont Group has four Working Groups that help the organization realize its goals. Each Working Group is expected to deliver results and achieve set goals.

• The Information Exchange Working Group (IEWG) provides a forum for the Egmont Group of Financial Intelligence Units and Egmont Group Observers to leverage the synergies associated with their operational and strategic activities, enhance cooperation and information exchanges among them, and address challenges faced by FIUs.
• The Membership, Support, and Compliance Working Group (MSCWG) is tasked with ensuring that the high standards and membership criteria are applied to new members and also to existing member FIUs.
• The Policy and Procedures Working Group (PPWG) develops operational policy and provides advice on strategic issues impacting the Egmont Group, including effective information exchanges and adherence to international standards.
• The Technical Assistance and Training Working Group (TATWG) is responsible for identifying, developing, and delivering technical assistance and training to Egmont Group members and candidate FIUs, in conjunction with Egmont Group Observers and international partners.

The Egmont Group also has the Egmont Centre Egmont Centre of FIU Excellence and Leadership (ECOFEL) which was created as an engine and hub to further assist FIUs as they strive towards effectiveness and excellence. The ECOFEL’s goal is to protect, position, and promote FIUs within their national systems as well as internationally.

To become an Egmont Group member, an FIU undergoes a thorough membership application procedure so the Egmont Group can satisfy itself that the FIU is meeting the requirements that are derived from the FATF standards, including an FIUs’ operational independence and autonomy.

Please visit our EG Membership Application page for more information on how to become an Egmont Group member,

The Egmont Centre of FIU Excellence and Leadership (ECOFEL) was created in 2018 to assist FIUs as they strive towards excellence and leadership. The ECOFEL’s goal is to protect, position, and promote FIUs nationally and internationally.

The ECOFEL’s goal is to protect, position, and promote FIUs within their national systems as well as internationally.

The ECOFEL aims to:

• Share expertise and best practices amongst FIUs
• Build networks within the AML/CFT professional community
• Introduce new and innovative tools for FIU operations and development
• Strengthen cooperation with international partner organizations
• Empower FIUs to position themselves as leaders domestically, regionally, and internationally

Registration to the ECOFEL eLearning platform is limited to Egmont Group member FIUs, candidate FIUs, law enforcement agencies, supervisory authorities, Egmont Group Observers, international organizations, and Academia.

The work of a Head of FIU (HoFIU) is often demanding due to the ever increasing national and international pressure on FIUs. It can be challenging to find solutions to complex day-to-day operational issues. In recognition of these challenges, the ECOFEL created an Executive Mentorship Program, exclusively designed for HoFIUs, with the goal of providing HoFIUs with advice from a mentor who has been, or is, a HoFIU.

Each mentor is carefully selected and trained by the ECOFEL team. The program offers an excellent opportunity for sharpening communication, decision-making, and problem-solving competencies and learn from someone who knows what it’s like to be in your position. Sharing observations, skills, ideas, and best practices with a seasoned HoFIU is an enriching and rewarding experience. The level of time commitment for the program is completely up to mentees and mentors.

• If you want to learn from an experienced HoFIU, we invite you to register for the ECOFEL Executive Mentorship Program as a mentee.
• The ECOFEL is also looking for experienced HoFIUs to become mentors. If you are an experienced and active or former HoFIU and are interested in helping your colleagues achieve excellence, we invite you to register as a mentor for the ECOFEL Executive Mentorship Program.

Interested parties can apply to join the ECOFEL’s Roster of Experts:

• Download the Roster of Experts Application – PDF 
• Download the Roster of Experts Application – Word version

The ECOFEL supports Egmont Group members, candidate FIUs, and non-members with capacity-building activities like mentoring and coaching, specialized training courses, analysis, and research products and staff exchanges. The ECOFEL team makes every effort to find a solution to your request. Please complete the Request for Assistance form so we can provide you with the best possible assistance.

The ECOFEL seeks to build effective partnerships and to combine efforts and resources in pursuit of common goals. We value your interest in collaborating with us and welcome opportunities to explore the possibilities of working with you. If you are interested, please complete the Request for Partnership and Collaboration form.

Due to the international nature of money laundering and terrorist financing, the only way to effectively combat these crimes is through international collaboration. FIU-to-FIU cooperation is paramount as they are uniquely positioned to support anti-money laundering and counter-terrorist financing efforts.

To staunch the flow of money laundering and terrorist financing, FIUs should have access to the widest possible range of information (FATF Rec 29.3), trust in their FIU counterparts, and have efficient means to cooperate amongst themselves and other private and public sector entities.

New developments in the global money laundering and terrorist financing landscape are resulting from the emergence of FinTech and virtual assets. The Egmont Group has highlighted the importance of FIUs stepping up their IT capabilities and further increasing their speed of information exchanges to best manage these emerging trends.

FIUs only see money laundering schemes’ whole picture if they step up their international cooperation by entering into joint analyses or public-private/public-public cooperation.

The Egmont Group believes it is critical for FIUs to have access to a broad range of data sources as well as the power to request additional information, be it for their own analyses or for that of another FIU.

FATF Rec. 20 – Reporting of Suspicious Transactions requires financial institutions, and other reporting entities, to promptly report to the FIU if they suspect, or have reasonable grounds to suspect, that funds are the proceeds of a criminal activity or are related to terrorist financing. The Egmont Group, via its members, provides reporting entities with expertise, red flags, and indicators to support them in identifying suspicious transactions.