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Egmont Group of Financial Intelligence Units
The Wolfsberg Group
The…
Egmont Group of Financial Intelligence Units
The Wolfsberg Group
The World Bank and the International Monetary Fund
In 2013, the Egmont Group produced a foundation for the future work of the Egmont Group to information exchange between FIUs. These documents include: The Egmont Charter, Egmont Principles for Information Exchange and Operational Guidance for FIUs.
Resources provided by the Egmont Group include case studies related to money laundering, terrorist financing, fraud, and other forms of financial crimes.
The Wolfsberg Group of 13 global banks aims to develop financial services industry standards and guidance related to Know Your Customer, Anti-Money Laundering and Counter-Terrorist Financing policies.
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banks should have written policies on the “identification of and follow-up on suspicious activities,” include a definition of what is suspicious
revisions made in May 2001 related to the prohibition of the use of internal non-client accounts (sometimes referred to as “concentration” accounts) to keep clients from being linked to the movement of funds on their behalf. banks should forbid the use of such internal accounts in a manner that would prevent officials from appropriately monitoring movements of client funds.
guidelines in 2002 on “The Suppression of the Financing of Terrorism,” .
• Providing official lists of suspected terrorists on a globally coordinated basis by relevant authorities.
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• Protecting financial institutions with safe harbor to encourage them to share information and to report to authorities.
• Performing enhanced due diligence for “relationships with , exchange houses, casas de cambio, bureaux de change and money transfer agents” and other high-risk customers or those in high-risk sectors, and activities “such as underground banking or alternative remittance systems.”