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GOPAC Becomes Observer in Egmont Group

International - Thursday, June 5, 2014

In a move underlining the vital role that parliamentarians play in helping to monitor laundering of the proceeds of corruption and strengthening the independence of Financial Intelligence Units (FIUs), the Global Organization of Parliamentarians Against Corruption (GOPAC) has been granted Observer Status in the Egmont Group, which is an informal international gathering of financial intelligence units established in 1995. The Group announced this decision during its 22nd Plenary which took place in Lima, Peru, earlier this June, where the majority of its members convened. These units play an important role in monitoring financial transactions locally and globally, in identifying suspicious transactions for follow-up and investigation by relevant agencies as well as in asset recovery.Through their influence on legislation and oversight on governmental activity, parliamentarians form key actors in the fight against money laundering. As a worldwide alliance of parliamentarians working against corruption, GOPAC has been cooperating with the Egmont Group on this matter for many years and encouraging related global cooperation, underlining the link between corruption and money laundering.GOPAC has 50 national chapters across the globe as well as a regional chapter for the Arab region (the Arab Parliamentarians against Corruption - ArPAC). ArPAC is also an active member of the Non-Governmental Group of the Arab Anti-Corruption and Integrity Network.
Source: GOPAC
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