Image: The Bruneian

Autoriti Monetari Brunei Darussalam’s (AMBD) Financial Intelligence Unit (FIU) recently won the prestigious Best Egmont Case Award (BECA) 2020, a highly coveted achievement among the 164 members of the Egmont Group of FIUs.

This year marks the 10th year of the BECA competition, which received 24 cases from 19 member FIUs, where the case submitted by FIU, AMBD, was chosen as a finalist along with the case from FIU, Guatemala

This case was related to the involvement supporting a trial involving criminal breach of trust and money laundering charges which concluded earlier this year, said the central bank in a statement.

“The case study demonstrated an investigation that benefited from the FIU’s contribution through provision of intelligence that added value to the investigation, effective domestic and international cooperation, the use of innovative techniques and a successful outcome of the case – all of which are considered essential criteria for the award,” it added.

The Egmont Group of FIUs was established in 1995 to fight against money laundering and financing of terrorism through international cooperation, especially in the areas of information exchange, training and sharing of expertise.

Source: Egmont Group website

The Group has a membership of 164 FIUs from all over the world. BECA is an annual competition introduced in 2011 to recognise successful cases from which member-FIUs can learn and to appreciate real-life examples of cases that have been successfully prosecuted.

This marks only the second time an FIU in Southeast Asia has won this international award, following the success of Anti Money Laundering Council (FIU of The Philippines) in 2015.

Previous BECA winners in the past three years include Russia (Rosfinmonitoring) in 2017, Ukraine (State Financial Monitoring Service) in 2018, and Peru (Financial Intelligence Unit) in 2019.

AMBD acknowledged and warmly thanked the Egmont Group of FIUs for coordinating the competition and other member FIUs that voted during this difficult period whilst the world is battling the COVID-19 impact. – Analisa Amu

The Bruneian | BANDAR SERI BEGAWAN

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