Macau's Financial Intelligence Office (GIF) was officially admitted as a member of the Egmont Group (EG) at the group's plenary meeting in Qatar, Doha.
According to a statement, this move reflects “the commitment and responsibility of Macau in the fight against money laundering and financing of terrorism (AML/CFT).
The EG was established in Brussels, Belgium in June 1995, as an informal international gathering for financial intelligence units (FIUs) worldwide to foster better communication amongst each other. The Secretariat is located in Toronto, Canada and up to 2008, there were a total of 108 FIUs from different jurisdictions that had joined up.
The objective of the EG is to provide a forum for FIUs around the world to improve co-operation in the fight against money laundering and terrorism financing, and to foster the implementation of domestic programs in this field. This support mainly includes expanding and systematizing international co-operation in the reciprocal exchange of information, as well as offering training to improve FIU personnel's expertise and capabilities, and promote the establishment of FIUs with other jurisdictions.
As a member of the EG, GIF is not only fostering co-operation with other jurisdictions, but also getting updated cross-border typologies information to further strengthen the efforts to fight money laundering and terrorism financing.
Source: Macau Daily Times
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