Azerbaijan's accession to Egmont Group to be revised in July

The Netherlands hosted a meeting of the Egmont Group’s Subcommittee on Legal Affairs on March 14-17. The meeting also mulled the membership of the Financial Monitoring Service (FMS) under the Central Bank of Azerbaijan (CBA) in the group, the FMS reported.

The meeting was attended by Azerbaijani delegation. The meeting held discussions and presentations in connection with the FMS’ activities in combating money laundering and terrorist financing.

The meeting gave a positive opinion on Azerbaijan’s accession to the Egmont Group. The question may be resolved finally this July at the next plenary meeting of the group.

The Egmont Group of Financial Intelligence Units is an informal international gathering of financial intelligence units (FIUs). The group was formed in 1995. FIUs are national centers to collect information on suspicious or unusual financial activity from the financial industry and other entities or professions required to report transactions suspicious of being money laundering or terrorism financing. The Egmont group brings together about 60 countries.


/Trend/