At the 6th Plenary of the @UNODC @GlobE Network in Baku, Azerbaijan, this past week, Mr. @Fuad Aliyev, Executive Committee Member of the Egmont Group and Chair of the Membership Support and Compliance Working Group (MSCWG), joined a high-level panel to highlight how Financial Intelligence Units (FIUs) are enhancing global efforts to recover criminal assets.
Mr. Aliyev emphasized the pivotal role of FIUs in tracing illicit financial flows and securing assets linked to money laundering, terrorism financing, and other financial crimes. Their ability to analyze complex financial data and detect patterns of suspicious behavior is essential for securing assets that may be subject to confiscation.
He also highlighted the importance of collaboration—both domestically with law enforcement agencies and internationally through the Egmont Group’s secure platform—to ensure timely and effective asset recovery, especially in cross-border cases.
The discussion also addressed the growing challenges posed by virtual assets and the critical role of Virtual Asset Service Providers (VASPs) in supporting FIUs and law enforcement in tracing and freezing crypto-assets.
Finally, Mr. Aliyev provided updates on Egmont’s ongoing initiatives, including its recent work on the role of FIUs in the NRA process and the upcoming project on enhancing FIU effectiveness in asset recovery.
We extend our sincere thanks to the GlobE Network for the opportunity to engage in meaningful dialogue on these critical issues at such a significant forum.
