Contribution of the SFMS has been recognized by the Egmont Group
As the Financial Intelligence Unit of Ukraine (FIU of Ukraine), the SFMS year on year has been working on improving the methods and tools for prevention and counteraction to money laundering, financing of terrorism and financing of proliferation of weapons of mass destruction.
Understanding the global nature of money laundering and financing of terrorism schemes, the SFMS is an active member of the world intelligence society – the Egmont Group of financial intelligence units.
The Egmont Group is a professional network to enhance the effectiveness of the exchange of information and experience among the FIUs of the global community, which unites FIUs of 166 jurisdictions. The Egmont Group provides a facility for the secure sharing of financial intelligence to combat money laundering, financing of terrorism and related predicate offences.
Only during recent years of work in the framework of plenary sessions, working groups and projects, the FIU of Ukraine:
- has sent to the Egmont Group information on case studies related to the concealment of the beneficial ownership of assets or transactions, cross-border ML networks, human trafficking, fight against corruption, and large-scale ML schemes;
- as a member of the project team, has taken part in at least four Egmont Group projects, as a co-leader in two of them.
Among the topics on which the SFMS has worked on, there were investigations into serious tax crimes, cybercrimes and FinTech, cooperation with customs authorities, fight against corruption, etc.
The last of the completed projects of the Egmont Group shortly before the full-scale armed aggression – the war of the RF against Ukraine, where the FIU of Ukraine acted as one of the leaders, was the project “Assets Recovery – The Role FIUs”.
In the last few years, the SFMS became one of the most active FIUs among the members of the Egmont Group and has taken the 2nd place in the region in terms of activity and contributions to the activities of the Egmont Group.
The Chair of the Egmont Group has recognized the contribution of the FIU of Ukraine to the activities of the Egmont Group, for which the FIU of Ukraine received a corresponding award.
Responding to the award, the Head of the State Financial Monitoring Service of Ukraine, Igor Cherkaskyi, expressed his gratitude to the Chair of the Egmont Group for recognition of the contribution of the FIU of Ukraine and emphasized that the SFMS would persistently continue its work on all global AML/CFT platforms in order to impose sanctions against the aggressor country and its competent authorities.
At the same time, in operational activities, one of the priorities of the FIU’s activity of Ukraine is counteraction and prevention of financial transactions for money laundering, financing of terrorism and financing of proliferation of weapons of mass destruction, related to entities of the RF, their collaborators etc.