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Enhancing the effectiveness of the AML/CFT mechanism through a horizontal analysis of Mutual Evaluation Reports
📢 The Egmont Group is proud to announce the release of a landmark report: “Enhancing the effectiveness of the AML/CFT mechanism through a horizontal analysis of Mutual Evaluation Reports.”
This comprehensive study, led by the Financial Monitoring Service of the Republic of Azerbaijan and Gibraltar Financial Intelligence Unit, examines operational effectiveness across 23 jurisdictions in the Europe II Regional Group, focusing on Immediate Outcomes 2 and 6 and Recommendations 29 and 40 of the FATF standards.
🔍 Key Insights
• Systemic Challenges: Recurring issues include STR quality, resource limitations, insufficient use of financial intelligence by law enforcement, and delays in international cooperation.
• Best Practices: High-performing jurisdictions invest in strong IT systems, proactive intelligence dissemination, strong inter-agency collaboration, and timely cross-border information sharing.
• Recommended Actions: Strengthen FIU resourcing and analytical capability, improve STR quality and timeliness, expand spontaneous information sharing, and reinforce strategic analysis.
🎯 Strategic Implications
The findings offer actionable recommendations for national authorities and the Egmont Group:
• Elevate FIU operational independence and autonomy and resources
• Integrate FIU outputs into law enforcement workflows
• Modernize international cooperation practices
• Promote peer learning and technical assistance across the network
🌍 Why This Matters
This horizontal analysis provides an evidence-based foundation for reforms that can improve operational outcomes and bolster effectiveness ratings. It highlights that technical compliance is only the starting point. Real impact depends on implementation and how effectively FIUs use financial intelligence in practice.
đź“„ Access the Report
The full report is available for download and may be reproduced for educational or non-profit purposes with appropriate acknowledgement.
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