The Bailiwick of Guernsey has been represented at an international meeting aimed at tackling the money laundering of the proceeds of bribery and corruption.
The Egmont Group of Financial Intelligence Units met recently in Argentina, to discuss their unique roles in helping to find those who are laundering money which has been gained via corrupt means and bring them to justice. Representatives from 155 countries and jurisdictions were in attendance.
Head of International Compliance for Guernsey’s Economic Crime Division, Adrian Hale, was invited to give a presentation about the strategic analysis work being carried out in Guernsey in relation to Suspicious Activity Reports (SAR’s) relating to bribery and corruption. He said: "Corruption, like so many crimes, is motivated by profit and greed. As a result Financial Intelligence plays a vital role in detecting and prosecuting corrupt activities. Guernsey is at the forefront of the international fight against money laundering and terrorist financing and this was further recognised at this Egmont meeting."
He continued: "We have pledged to continue working with our colleagues from other countries and jurisdictions to exchange information which will enable better analysis of corruption cases. It’s important to continue fostering trust between Financial Intelligence Units and other domestic and international partners.
"The Egmont Group has become a key element of international efforts to counter money laundering. It allows members to exchange information, engage in international cooperation and supports both national and international efforts to address bribery and corruption."
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