Country of the Month : Guinea Bissau

The Egmont Group is a “club” of 167 Financial Intelligence Units (FIUs). It provides a platform for the secure exchange of financial expertise and information to combat money laundering and terrorist financing (ML-FT). In the region covered by the OCWAR-M project, six FIUs are not yet members of the Egmont Group, including the FIU of Guinea Bissau. This country, like the other five non-member countries, wishes to join the Egmont Group to benefit from its activities and secure exchange platform.

The application process involves meeting a series of criteria and undergoing regular on-site assessments until the membership is accepted. OCWAR-M is supprting the FIU of Guinea Bissau in this process. Consultant Marilyne Landry has been recruited by the project and is working directly with the President of the FIU, Mr. Justino Sá, to implement the action plan designed to achieve Guinea Bissau‘s membership to the Egmont Group. In addition to this support, trainings on strategic analysis and data security were organized for the FIU.

Since 2020, the FIU of Guinea Bissau has taken many steps to meet the criteria of the Egmont Group. The Senegalese FIU has agreed to sponsor its application. OCWAR-M‘s support to Guinea Bissau with its application to the Egmont Group will continue until the end of 2022, so that the FIU can fulfil all the adhesion criteria by that time.

The Senegalese FIU, represented by its Head of IT, carried out a first informal sponsorship mission in September to prepare the FIU of Guinea Bissau and the country’s authorities for the first formal visit of the sponsors, which should take place before the end of 2021 – if the epidemic context allows it.

The recruitment of an international Portuguese-speaking expert and an IT manager, who will work under the supervision of Ms. Landry, should allow to meet some of the challenges identified during this first visit.

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