The Egmont Group’s Information Exchange Working Group (IEWG) has launched Phase II of its project on enhancing Financial Intelligence Units’ (FIUs) role in asset recovery. This initiative builds on the 2021 findings and responds to the evolving challenges posed by rapid criminal activity, technological misuse, and global threats.
📌 Why it matters:
Recent amendments to FATF Recommendations 4, 30, 31, 38, and 40 have strengthened the global toolkit for asset recovery, empowering FIUs, law enforcement, and prosecutors to freeze, seize, and confiscate illicit assets more effectively.
📌 What’s new in Phase II:
This phase focuses on:
- Strengthening FIU powers to suspend and freeze assets
- Enhancing domestic and international cooperation
- Leveraging financial intelligence and IT tools
- Promoting strategic partnerships with the private sector
📌 Key takeaway:
FIUs are central to the early stages of asset recovery—identification and securing—and their effectiveness directly impacts a country’s ability to deprive criminals of illicit proceeds.
📘 The report includes national strategies, case studies, and recommendations to help jurisdictions improve their AR frameworks.
Let’s continue building a global network that fights financial crime with precision and collaboration.
