At the No Money for Terror ministerial conference in Munich, Egmont Group Executive Secretary Jerome Beaumont delivered an intervention underscoring the role of Financial Intelligence Units (FIUs) in countering terrorist financing and the need for multilateral information exchange and innovation to address technology-driven risks. The speech highlighted how virtual assets can be misused to recruit individuals, move funds anonymously and finance operations through the dark web, positioning FIUs as central to detecting suspicious patterns and tracing illicit flows. It also pointed to sophisticated online propaganda and fundraising campaigns, arguing that FIUs can use advanced analytical tools and private-sector collaboration to identify emerging trends and disrupt networks. Beaumont promoted public-private partnerships (PPPs) to enable earlier intelligence sharing with financial institutions and to help uncover links after attacks, and presented the Egmont Centre of FIU Excellence and Leadership (ECOFEL) as the Group’s programme for training, research and technical assistance to strengthen FIU capabilities and best practices. Egmont also acknowledged contributions from Financial Action Task Force (FATF) President Elisa de Anda Madrazo, United Nations Office on Drugs and Crime (UNODC) Director General Ghada Waly and German hosts and officials, including Finance Minister Jörg Kukies and the head of the German FIU, Daniel Thelesklaf.
Egmont Group 2025-02-14
Egmont Group calls for stronger FIU information exchange and public-private partnerships to combat terrorist financing
At the No Money for Terror ministerial conference in Munich, Egmont Group Executive Secretary Jerome Beaumont emphasized the critical role of Financial Intelligence Units (FIUs) in combating terrorist financing through multilateral information exchange and innovation. Beaumont advocated for public-private partnerships and highlighted the Egmont Centre of FIU Excellence and Leadership (ECOFEL) as a key initiative for enhancing FIU capabilities.