Image: AMBD

The Financial Intelligence Unit (FIU) under Autoriti Monetari Brunei Darussalam (AMBD) recently signed a Memorandum of Understanding (MoU) with the Anti-Money Laundering Council (AMLC) under the FIU of the Philippines.

Under the agreement, both agencies agreed to cooperate in the exchange of financial intelligence that may assist in the investigation and prosecution of persons suspected of money laundering and terrorism financing.

This marks the strong commitment of both agencies in the global fight against money laundering and terrorism financing.

The MOU with AMLC is the eighth that the FIU, AMBD has signed. Current MOUs include those signed with the Financial Intelligence Units of Malaysia, Indonesia, South Korea, Bangladesh, Cambodia, Singapore, and Laos.

The signing of MOUs with other FIUs is in line with the Principles of Information Exchange of the Egmont Group, the global organisation of international Financial Intelligence Units.

Additionally, signing these agreements is an important step towards complying with international standards on anti-money laundering and combating the financing of terrorism, in particular the Financial Action Task Force Recommendation 29.

FIU, AMBD and AMLC are the central agencies in Brunei and The Philippines respectively for receiving, requesting, analysing, and disseminating disclosures of suspicious transaction reports and other information related to money laundering and terrorism financing.



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