The Egmont Group was pleased to take part in the October 2024 FATF Plenary meeting this week, which was notably the first Plenary chaired by Elisa de Anda Madrazo, the President of FATF. Once again, several essential topics were discussed where the Egmont Group’s participation and joint actions taken with FATF highlight the strategic significance of the ongoing cooperation between the two organizations.
The Egmont Group takes part in several FATF projects, including on the following topics:
- Tackling Online Child Sexual Abuse
- Amendments of Recommendation 16
- Issuance of an update of the FATF NRA Guidance
- The joint Egmont Group | FATF | INTERPOL | UNODC project on informal international cooperation
We are especially delighted to see the approval of the NRA Guidance as it introduces several essential improvements and developments in the understanding of the NRA process that will benefit the Global Network. Some of these new elements highlight the role of NRAs in the AML/CFT Strategy development in jurisdictions, as well as the continuous nature of this process that allows proactive assessment of current and future threats.
We look forward to the continuation of the joint project on Informal International Cooperation, as it is essential in strengthening the resilience and integrity of the global financial system.
The Egmont Group was able to highlight the importance of FIUs operational independence and autonomy. The EG also presented the significant progress and tangible results achieved since the launch of the Cyber-Enabled Fraud Rapid Response Program nine months ago.
We stand ready to continue supporting the topics of common relevance between the two organizations for the benefit of member FIUs and the Global AML/CFT Network.
