The Financial Monitoring Service of the Central Bank of Azerbaijan (CBA) has strengthened relations with members of the Egmont.
The 20th plenary meeting of the Egmont which was attended by over 300 representatives from 109 countries and 17 international organisations was held on July 9-13 in St. Petersburg as stated on Tuesday.
The authority of the Financial Monitoring Service participated at the meeting and the plenary session of leaders of the financial monitoring bodies. In addition, individual members of the delegation participated in meetings of relevant working groups and courses.
At the plenary session it was decided to accept Gabon, Tajikistan and Tunisia as full members of the group, bringing the number of the Egmont to 131.
Some 65 memoranda of understanding and agreements concerning the exchange of data were signed during the meeting between the financial monitoring bodies. The OSCE's received an observer status in the Egmont in accordance with another decision. In addition various regional meetings have also been organised and discussions on amendments and additions to the charter of the group were held.
The next meeting of the Egmont working group and committee will be held in January 2013 in Belgium while the 21st plenary meeting of the group will be held in July 2013 in South Africa.
Azerbaijan was accepted as a full member of the group at the 19th plenary meeting, held in July last year.
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 centres to collect information on suspicious or unusual financial activity from the industry and other entities or professions required to report suspicious transactions of say money laundering, or financing terrorism. The Egmont group brings together about 60 countries.