Egmont Group

General Information

The Egmont Group was formed in 1995, taking its name from the Egmont Palace in Brussels where the group's founding meeting took place. The goal of the Egmont Group, a united body of 167 Financial Intelligence Units (FIUs), is to provide a forum for FIUs around the world to improve international cooperation in the relevant field.

Mission

The mission of the Egmont Group is promoting establishment of financial intelligence units in the early stage of development, expanding and systematizing international cooperation in the reciprocal exchange of information, promoting personnel exchanges to improve the expertise and capabilities of personnel employed by FIUs by organizing trainings and educational visits, fostering better and secure communication among FIUs through the application of technology, such as the Egmont Secure Web (ESW)

Cooperation with Azerbaijan

At the end of 2009, the Financial Monitoring Service applied for membership in the Egmont Group Secretariat. Accordingly, the relevant procedures have been initiated for the Financial Monitoring Service's membership in the Egmont Group. Pursuant to the relevant procedures, the FIUs of the Russian Federation and the Republic of Ukraine were identified as sponsors for the Financial Monitoring Service under the Central Bank of the Republic of Azerbaijan.

As part of the membership procedure, the FMS was invited to participate as an observer in the 18th plenary meeting of the Egmont Group held from June 27 to July 1, 2010. The next stage of the FMS' admission procedures to the Egmont Group was discussed at this plenary session. The FMS twice participated in the meetings of the Egmont Group Working Subgroups (Moldova, October 2010 and Aruba, March 2011) as an observer. During the meeting of the Working Sub-Groups in Aruba, it was recommended that the Financial Monitoring Service under the Central Bank of the Republic of Azerbaijan be elected a member of the Egmont Group by the Legal Working Sub-Group. By the decision made at the 19th plenary meeting of the Egmont Group held on July 11-15, 2011, the FIU of Azerbaijan was elected a full member of the Egmont Group together with the financial intelligence units of six other countries.

Membership in the Egmont Group provided the FIU Azerbaijan with the opportunity to connect to the organization's secure information system (Egmont Secure Web) installed via the Internet. The system has a high-security e-mail service, and currently more than 167 members of the organization exchange information on specific areas of activity through this mechanism.

FMS, established by Decree No. 95 of May 25, 2018, systematically worked with the organization in a short period of time in order to restore its membership in the Egmont Group. As a result, at the 25th plenary meeting of the Egmont Group in Sydney, Australia on September 23-28, 2018, after discussions in the relevant Working Subgroups and the Steering Committee, the decision to admit the Service to the Egmont Group was adopted unanimously on 27 September.

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