SICCFIN takes part in Egmont Group BECA competition for first time

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The Egmont Group is an international organisation which brings together nearly 160 financial intelligence units (FIUs) from all over the world. These FIUs share the same mission in their respective countries: to combat money laundering and terrorist financing. 

To enable these various FIUs to learn from one another’s experience based on real cases handled by their peers and successfully prosecuted, in 2011 the Egmont Group decided to launch the Best Egmont Case Award (BECA) competition. 

FIUs participating in the competition can submit real but anonymised case studies to a five-person panel for consideration. The objective is to allow investigators and analysts on all five continents to learn useful lessons from specific actions, by being notified promptly of the new channels and mechanisms used by organised criminals and terrorist groups to launder capital and income from illegal activities (counterfeiting, corruption, pimping, extortion, fraud, fraudulent bankruptcy, arms trafficking, trafficking in cultural property, etc.). 

The best case studies, as selected by the panel, are presented by the finalists during the Egmont Group’s annual plenary meeting.¹ FIU officials are invited to vote for the case study that they consider to be the best. 

The winner receives the BECA trophy and international recognition of their excellent work in the field of combatting money laundering, terrorist financing and corruption. 

This year, for the first time since the BECA competition was established in 2011, SICCFIN is taking part with a case study entitled “International money laundering, a fraud family story”. 

The participation of Monaco’s financial intelligence unit in BECA is a further demonstration of the Principality’s strong commitment to the efforts being made by numerous countries to fight the scourges of terrorism, corruption and money laundering.

¹ This year, the plenary meeting will be held in Sydney, Australia, in September. The Principality will be represented by a delegation of three people from SICCFIN.