Montenegro state body becomes member of Egmont Group with Azerbaijan's support

Azerbaijan continues to cooperate with international organizations and other countries to strengthen its position and image globally. Within the framework of membership in the Egmont Group, a specialized international organization of the World Financial Intelligence Units (FIUs), the process of admission of the Department for Combating Money Laundering and Terrorism Financing, a Montenegrin FIU to the Egmont Group sponsored by the Financial Monitoring Service (FMS) of the Republic of Azerbaijan was successfully completed. On November 4, 2020, the Montenegrin FIU was elected a full member of the organization, FIU told Report.

Thus, as a part of this process, the application for membership of the Montenegrin FIU prepared with the FMS contribution was submitted to the Membership, Support, and Compliance Working Group of the Egmont Group together with the relevant mobile inspection record.

The FIU Board of Directors, in turn, accepted this opinion and approved the membership of the Montenegrin FIU.

Note that, the Egmont Group, a united body of 166 countries headquartered in Canada, was established on June 9, 1995, to improve international cooperation between the FIUs. The support of FIUs for national and international AML / CFT initiatives particularly actualizes this organization and makes it a reliable platform for the exchange of information at the international level following world standards on AML / CFT. Azerbaijan was elected a full member of the Egmont Group by the decision of the 19th plenary meeting held on July 11-15, 2011, of this organization.