Australia to host Financial Intelligence Think Tank

Head’s of Financial Intelligence Units (FIUs) from across the globe will come together in Sydney this month for the 25th Egmont Group Plenary, in the one of the largest gatherings of financial intelligence capability in the world.

Made up of FIUs from over 150 countries, the Egmont Group spans the globe and provides a unique platform for the secure exchange of information and operational and strategic collaboration relating to financial intelligence.

Hosted by AUSTRAC, the 2018 Egmont Group Plenary will see over 400 delegates from FIU’s around the world come together, united in their efforts to build a global capability to combat money laundering, terrorism financing and serious financial crime.

The Minister for Home Affairs Peter Dutton said that the Egmont Plenary will bring to Australia some of the world’s best expertise and innovative minds in the areas of anti-money laundering, counter-terrorism financing and combatting other serious financial crime.

“Terrorist threats and the scale of money laundering by organised crime groups has never been greater and the value the Egmont Group’s work has never been more essential for the protection of communities and financial systems worldwide,” Mr Dutton said.

“Money is the lifeblood and motivation behind organised crime and the ability to prevent money-laundering and detect the flow of the proceeds of crime and terrorism funding is an essential part of deterring and disrupting serious crime and terrorist activity.

“The emergence of new technologies and faster and more efficient ways to move money around the world means that international cooperation between financial intelligence units has never been more important.

“AUSTRAC has positioned itself as a leading agency when it comes to the international exchange of information and intelligence capability and the Egmont Plenary represents an opportunity to further strengthen the relationships and partnerships they have been building for years.”

The 2018 Egmont Group Plenary will be held in Sydney on 24-27 September and will look back at the outcomes of operational priorities set at the previous Plenary in Macau in 2017 and set priorities for the next twelve months.

This is the second time Australia has hosted the Egmont Plenary, previously held in Sydney in 2003.

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