The SFMS intensifies the exchange of financial intelligence with European partners
Within the framework of the 30th Egmont Group Plenary Meetings, which took place from 2-7 June, 2024, in Paris, France, the Head of the SFMS – Mr Igor Cherkaskyi signed international interagency agreements with the heads of the Financial Intelligence Units of Germany, the Kingdom of Norway and Gibraltar.
The key purpose of the signed Memoranda of Understanding (MoUs) is a legal regulation in the mutual exchange of financial intelligence information available to financial intelligence units, which will increase the effectiveness of financial investigations.
The mentioned MoUs provide for the obligations and rights of the parties regarding confidentiality, data protection, further use and dissemination of information, based on the principle of reciprocity.
Moreover, the SFMS and the Financial Intelligence Units of Germany, the Kingdom of Norway and Gibraltar agreed to cooperate in assembling, developing and analysing information at their disposal on financial transactions suspected of being related to money laundering, associated predicate offenses and terrorist financing.
Currently, the SFMS has concluded 84 international interagency agreements on cooperation with financial intelligence units of foreign states.