Egmont Group

The Egmont Group is the international body for Financial Intelligence Units and works to improve international cooperation in the exchange of information, training, IT, legal and outreach.

It comprises of an international network of 139 FIUs and is supported by international organisations that have observer status, such as FATF and World Bank, among others.

The main objectives of the Egmont Group are:

• enhance international cooperation through information exchange,
• increase the efficiency of FIUs with programmes for staff exchange and training,
• enhance the operational independence of FIUs,
• encourage the creation of FIUs that comply with the same international standards and have the same operational approach for money laundering and terrorist financing files.

The Egmont Group uses secure communication system to exchange information between FIUs, called the “Egmont Secure Web”.

The JFCU is a member of Egmont, the Detective Inspector JFCU sitting on the Heads of Financial Intelligence Units Group.

Financial Action Task Force (FATF)

The Financial Action Task Force (FATF) is an independent intergovernmental group aimed at strengthening the policy to protect the international financial system against money laundering and terrorist financing.

The Financial Action Task Force’s mission is to:

• examine detected money laundering and terrorist financing methods and trends,
• clarify the international standards and measures combating money laundering and terrorist financing,
• foster the global application of these standards,
• detect and tackle new money laundering and terrorist trends,
• commit to the achieve these goals together with the parties involved and partners around the world

The FATF Recommendation were revised in February 2012.

Camden Asset Recovery Inter Agency Network (CARIN)

CARIN is an informal network of contacts that aims to increase the effectiveness of members' efforts, individually and collectively, on a multi-agency basis, in depriving criminals of their illicit profits.

The JFCU along with a representative of the LOD participate as part of CARIN.

Moneyval

MONEYVAL

The Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism - MONEYVAL (formerly PC-R-EV) was established in 1997.

The aim of MONEYVAL is to ensure that its member states have in place effective systems to counter money laundering and terrorist financing and comply with the relevant international standards in these fields.

MONEYVAL assesses its members' compliance with all relevant international standards in the legal, financial and law enforcement sectors through a peer review process of mutual evaluations.

Jersey is a member of MONEYVAL and subject to the mutual evaluation process. Jersey will be subject to 4^th round assessment in 2015, with on-site visit scheduled during January 2015.

MONEYVAL reports provide highly detailed recommendations on ways to improve the effectiveness of domestic regimes to combat money laundering and terrorist financing and states’ capacities to co-operate internationally in these areas.