RAMALLAH, Thursday, July 4, 2019 (WAFA) – Azzam Shawwa, the Governor of Palestine Monetary Authority, said today that the Financial Follow-Up Unit of the PMA has been admitted as member in the Egmont Group of Financial Intelligence Units against Money Laundering and Financing of Terrorism during its 26th meeting in The Hague, Holland.
PMA said the admittance of the Financial Follow-Up Unit to the membership in the Egmont Group is within the framework of national efforts to boost the role of the State of Palestine in combating the crimes of money laundering and financing of terrorism worldwide. It is also the outcome of the national risk assessment process.
The membership of the Financial Follow-Up Unit in the Egmont Group, according to PMA, allows for exchanging intelligence information about the crimes of money laundering and financing of terrorism with more than 159 counterpart units around the world. It also facilitates flow of information and capacity building and efficiency in fighting terrorism and in tracking criminal funds across the world.
Headquartered in Canada, the Egmont Group oversees facilitating exchange of intelligence information among the units of combating money laundering and financing of terrorism.
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