Maldives becomes a member of Egmont Group of Financial Intelligence Units

Maldives’ Financial Intelligence Unit (FIU) has become a member of Egmont Group of Financial Intelligence Units (Egmont Group).

Egmont Group is an international organization that facilitates cooperation and intelligence sharing between national financial intelligence units to investigate and prevent money laundering and terrorism financing.

Maldives’ FIU received Egmont Group’s membership during the 30^th Annual General Meeting of the Group held on June 2^nd at Paris, France.

According to the central bank, Maldives Monetary Authority (MMA), FIU was proposed to become a member of Egmont Group back in 2017.

MMA added that Maldives’ membership bid was sponsored by the financial intelligence units of Sri Lanka and Bangladesh.

“Maldives’ Financial Intelligence Unit, as a member of Egmont Group, will have the opportunity to exchange information with the financial negligence units of member groups, seek technical expertise and participate in various crucial projects of the Egmont Group,” MMA’s statement read.

The statement described Maldives’ membership as an additional boost to its Financial Intelligence Unit’s efforts to prevent money laundering and terrorism financing.

MMA also extended gratitude to all local authorities and international partners that helped Maldives acquire Egmont Group’s membership.