Tuesday, July 12 2011 10:36

Egmont Group holds a meeting in Yerevan


ArmInfo. The Egmont Group of Financial Intelligence Units (FIUs) is holding a meeting in Yerevan.

The press service of the Central Bank of Armenia reports that during the meeting FIUs from 30 countries are supposed to sign over 50 memorandums of mutual understanding against money laundering and financing of terrorism.

Almost 290 FIU agents from 102 countries as well as representatives of the IMF, the WB and other international organizations are taking part in the meeting.

The Center for Financial Studies of the Central Bank of Armenia has been full member of the Egmont Group since May 29 2007. As of today the Group comprises FIUs from almost 120 countries.

Recognizing the benefits inherent in the development of a FIU network, in 1995, a group of FIUs met at the Egmont Arenberg Palace in Brussels and decided to establish an informal group for the stimulation of international co-operation. Now known as the Egmont Group of Financial Intelligence Units, these FIUs meet regularly to find ways to cooperate, especially in the areas of information exchange, training and the sharing of expertise.

According to the web-site of the Egmont Group, the goal of the Group is to provide a forum for FIUs around the world to improve cooperation in the fight against money laundering and financing of terrorism and to foster the implementation of domestic programs in this field.
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