Criminals and terrorists are constantly developing new methods to finance and launder proceeds from illegal activities. With the growth of globalization and emerging technologies, it has become easier for these actors to move money across borders and build international networks. Addressing these threats effectively requires strong international cooperation.
FINCEN is committed to maintaining and strengthening collaboration with international partners. We exchange operational information, knowledge, and expertise with financial intelligence units around the world. We also participate in global initiatives such as the Egmont Group and the Financial Action Task Force.
Egmont Group
FINCEN is part of the Egmont Group, a global network of over 170 financial intelligence units. The group promotes secure and effective information sharing among its members and fosters cooperation and best practices in combating financial crime. A dedicated platform developed by the Egmont Group enables confidential and efficient communication.
Financial Action Task Force
The Financial Action Task Force, or FATF, was established in 1989 during a G7 summit to develop policies that combat money laundering. Since 2001, it has also focused on terrorist financing. The FATF issues 40 recommendations that its members are expected to implement. These cover preventive measures for institutions, improvements in legal frameworks, and international cooperation efforts.
The FATF conducts regular assessments to evaluate whether countries are effectively implementing the recommended standards. In 2022, the Netherlands underwent such an evaluation and received a generally positive assessment of its efforts to combat money laundering and terrorist financing.
European Union Cooperation
A platform for cooperation among financial intelligence units within the European Union was established in Brussels in 2006. This platform is composed of representatives from EU member states and is coordinated by the European Commission. The members work in specialized subgroups and often involve external experts.