What is a key objective of the Egmont Group?

The correct answer is A. To find ways to promote the development of Financial Intelligence Units and the sharing of. The Egmont Group is a united body of 165 Financial Intelligence Units (FIUs). The Egmont Group provides a platform for the secure exchange of expertise and financial intelligence to combat money laundering and terrorist financing (ML/TF). This is especially relevant as FIUs are…

Compliance Standards (International AML/CFT Standards and the role of FATF)

Question

Options

ATo find ways to promote the development of Financial Intelligence Units and the sharing of
BTo safeguard the financial system from illicit use and combat money laundering and promote
CTo issue binding standards that establish consistently operated Financial Intelligence Units in
DTo provide best practices for financial institutions on how to report suspicious activity to best

How the community answered

(17 responses)

A
76% (13)
B
6% (1)
C
6% (1)
D
12% (2)

Explanation

The Egmont Group is a united body of 165 Financial Intelligence Units (FIUs). The Egmont Group provides a platform for the secure exchange of expertise and financial intelligence to combat money laundering and terrorist financing (ML/TF). This is especially relevant as FIUs are uniquely positioned to cooperate and support national and international efforts to counter terrorist financing and are the trusted gateway for sharing financial information domestically and internationally in accordance with global Anti Money Laundering and Counter Financing of Terrorism (AML/CFT)

Topics

#Egmont Group#FIUs#information sharing#international cooperation

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