The Egmont Group is a global organisation that facilitates and prompts the exchange of information, knowledge, and cooperation amongst member Financial intelligence units (FIUs).
Key points
- The Egmont Group recognizes that financial intelligence sharing is of paramount importance and has become the cornerstone of international efforts to counter money laundering, terrorist financing, and associated predicate offences.
- The Asia and Pacific Regional Group is comprised of FIUs from member jurisdictions of the Asia and Pacific Group on Money Laundering (APG). The Asia and Pacific Regional Group membership now stands at 28 FIUs including India.
- The Egmont Group Secretariat was established in July 2007 and is based in Canada.
- The ECOFEL has been created as an engine and hub to further assist Financial Intelligence Units as they strive towards excellence and leadership.
- The ECOFEL has been active since April 2018. It is fully integrated in the Egmont Group and located within the Egmont Group Secretariat in Canada.
Financial Intelligence Unit – India (FIU-IND)
- Financial Intelligence Unit – India (FIU-IND) was set by the Government of India vide O.M. dated 18th November 2004 as the central national agency responsible for receiving, processing, analyzing and disseminating information relating to suspect financial transactions.
- FIU-IND is also responsible for coordinating and strengthening efforts of national and international intelligence, investigation and enforcement agencies in pursuing the global efforts against money laundering and financing of terrorism.
- FIU-IND is an independent body reporting directly to the Economic Intelligence Council (EIC) headed by the Finance Minister.
