The Egmont Group used a high-level panel at the 6th Plenary of the United Nations Office on Drugs and Crime’s GlobE Network in Baku, Azerbaijan, to set out how Financial Intelligence Units (FIUs) support global efforts to trace and recover criminal assets. Fuad Aliyev, an Egmont Group Executive Committee member and Chair of the Membership Support and Compliance Working Group, emphasised FIUs’ role in analysing complex financial data to identify suspicious patterns and secure assets linked to money laundering, terrorist financing and other financial crimes. The discussion underlined the operational importance of domestic cooperation between FIUs and law enforcement and international information-sharing via the Egmont Group’s secure platform, particularly for cross-border asset recovery. It also addressed the growing challenges associated with virtual assets, including the role of Virtual Asset Service Providers in helping trace and freeze crypto-assets, alongside updates on Egmont initiatives such as work on FIUs’ role in the national risk assessment process and an upcoming project aimed at enhancing FIU effectiveness in asset recovery.
Egmont Group 2025-05-26
Egmont Group highlights FIU collaboration on asset recovery and previews effectiveness project at UNODC GlobE Plenary in Baku
The Egmont Group highlighted the role of Financial Intelligence Units (FIUs) in tracing and recovering criminal assets at the UN Office on Drugs and Crime’s GlobE Network plenary, emphasizing FIUs' analysis of financial data to combat money laundering and terrorist financing. The discussion stressed domestic and international cooperation, challenges with virtual assets, and initiatives to enhance FIU effectiveness in asset recovery.