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Egmont Group Adds Nine Jurisdictions to Membership

By Larissa Bernardes

Nine jurisdictions, including Saudi Arabia, Sri Lanka and Macau, have joined the Toronto-based international consortium of financial intelligence units known as the Egmont Group. The group announced the accessions Thursday at the end of its 17th annual plenary meeting, held in Doha, Qatar. Fiji, Kyrgyzstan, Malawi, Mongolia, Senegal and St. Lucia also joined the organization, which consists of 116 member jurisdictions that work together to limit global money laundering and terrorist financing. That the Egmont Group would bring in jurisdictions with seemingly poor anti-money laundering (AML) regimes such as Macau – with its high-risk gambling sector – and St. Lucia...

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