On the week of June 1-6, 2014, MGA Elad Dvash-Banks presented at the Egmont Group of Financial Intelligence Units’s 22nd Annual Plenary in Lima, Peru. On behalf of his fellow MGA teammates, he shared findings from their Capstone research report on stakeholder engagement with international partners.
Executive Summary FROM THE REPORT
Authors:
Elad Dvash-Banks
Elizabeth Severinovskaya
Megan Strachan
Perizat Sarsenbayeva
Money laundering and the financing of terrorism are global, borderless crimes. An effective response to such crimes can only be achieved through a strong and interconnected global network of vested stakeholders.
The Egmont Group of Financial Intelligence Units (hereafter “the Egmont Group”) is uniquely positioned within the global Anti-Money Laundering/Countering the Financing of Terrorism (AML/CFT) network as both the facilitator of financial intelligence sharing and the representative for Financial Intelligence Units (FIUs) in international fora. As the only international body entrusted with representing FIUs – the agencies responsible for enforcing global AML/CFT standards at the domestic level – the Egmont Group acts as the bridge between international and national AML/CFT efforts. Given the Egmont Group’s crucial role in the global fight against money laundering and financing of terrorism, the organization must ensure that it is sufficiently entrenched in the global AML/CFT network and work to strengthen network integration.
The Egmont Group Secretariat has identified development of stronger partnerships with AML/CFT actors in the global network as a key strategy for furthering the Egmont Group’s integration with the global AML/CFT network. The Munk School of Global Affairs’ Consulting Team was therefore tasked with performing an analysis to determine existing gaps in stakeholder engagement, as well as researching present and future partnerships with other stakeholders in the AML/CFT network. Informed by this gap analysis, we were asked to provide the Egmont Group with a set of recommendations aimed at improving and deepening the level of interaction with relevant AML/CFT stakeholders. The results of this effort are contained in this report.
