Egypt Hosts Annual Workshop in field of money laundering, terrorism funding
10-02-2020

Egypt Hosts Annual Workshop in field of money laundering, terrorism funding

Egypt Hosts Annual Workshop in field of money laundering, terrorism funding

Under the auspices of President Abdel Fattah Al-Sisi, the Egyptian Money Laundering and Terrorist Financing Combating Unit (EMLCU) will host the "Middle East & Africa Joint Typologies & Capacity Building Workshop" organised by the MENA Financial Action Task Force (MENAFATF), Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG), and Inter-Governmental Action Group against Money Laundering in West Africa (GIABA).

The four-day workshop  commenced on the 30 of July, with the participation of a number of experts and delegates from international and national entities, including the Financial Action Task Force (FATF), the World Bank, the International Monetary Fund (IMF), the FATF Training and Research Institute (FATF-TREIN), the United Nations Counter-Terrorism Implementation Group, the Egmont Group (International Federation of Financial Intelligence Units) among other international bodies and representatives from several countries, concerned with ML and TF Combating.

In a statement, the Central Bank of Egypt (CBE), said that hosting this significant workshop affirms Egypt's efforts in supporting and its contribution to overcoming the challenges facing African countries, as Egypt presides the African Union during 2019. It also reflects the outstanding contribution of the EMLCU to support the activities of the MENAFATF group, of which Egypt currently serves as its vice-president and will chair in 2020.

The workshop included a number of sessions that addressed crucial topics and illegal schemes related to ML and TF, methods to combat and drain their sources of funding through enabling active cooperation and coordination between the MENAFATF Group, other regional groups, and relevant designated international entities.

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