The Egmont Group of Financial Intelligence Units, which serves as a platform for 170 financial intelligence units (FIUs) worldwide to share data on financial crimes, has suspended Russia’s membership due to its invasion of Ukraine. This decision prevents Rosfinmonitoring, the Russian FIU, from accessing Egmont’s secure communications portal and participating in activities related to money laundering and terrorism financing.
The suspension follows a lengthy process during which Russian officials were warned of this possible action, and it comes after Egmont had already revoked Rosfinmonitoring’s authority to host meetings and attend events in person. The group emphasized the importance of trust among its member jurisdictions and expressed concern about the impact of the Russian invasion on Ukraine’s FIU.
Egmont makes decisions by consensus, and the Russian FIU was given an opportunity to present its case against suspension. While more than 20 other FIUs opposed the suspension, their concerns were deemed unsubstantiated or addressed during the meeting. This suspension will require Rosfinmonitoring to find alternative channels for exchanging financial intelligence with other FIUs.
It’s worth noting that several FIUs in the European Union had already stopped sharing information with the Russian counterpart following the invasion of Ukraine. The Financial Action Task Force (FATF) had previously suspended Russia’s membership, and Russian officials were barred from attending FATF meetings.
The suspension of Egmont membership underscores the broader international response to Russia’s actions, and it reflects concerns about the appropriateness of continued cooperation with Russia in light of its actions in Ukraine and its relationships with other countries like North Korea.
, an independent military force, and allied militias in Sudan raped several dozen women and girls in West Darfur’s capital, El Geneina, and those fleeing to Chad between late April and late June 2023, Human Rights Watch said today. The assailants appear to have targeted people because of their Massalit ethnicity and, in some cases, because they were known activists.){kind=link}