YEREVAN. - Egmont group of Financial Intelligence Units, launched its work by holding a session in Yerevan, PR of Armenian Central Bank (CBA) informs Armenian News-NEWS.am.

The Group was founded in 1995 for Financial Intelligence Units (FIU) of various countries. The goal of the Egmont Group is to provide a forum for FIUs around the world to improve cooperation in the fight against money laundering and financing of terrorism. FIUs decided to establish a group for the stimulation of international co-operation. Its role is to find ways to cooperate, especially in the areas of information exchange.

Currently the Group includes 120 Financial Intelligence Agencies of various states. Monitoring center of Armenian Central Bank joined Egmont Group in 2007. The Group holds one plenary session annually as well as meetings of working groups.

Over 290 participants representing FIUs of 120 member states participate in the plenary session held in Yerevan. Among them are International Monetary Fund, World Bank and other organizations.