MELBOURNE: India will host the next edition of the ‘No Money For Terror’ conference to be held in 2020, Union Minister G Kishan Reddy said on Thursday.
The ‘No Money For Terror’ conference is organised by Financial Intelligence Units (FIUs) of over 100 countries, jointly called The Egmont Group.
India will host the next ‘No Money For Terror’ conference in India in 2020, Reddy, Union Minister of State for Home, said at the ongoing ‘No Money For Terror’ conference being held here.
Recognising the importance of international cooperation in the fight against money laundering and financing of terrorism, a group of FIUs met a few years ago at the Egmont Arenberg Palace in Brussels, Belgium, and decided to establish an informal network of FIUs for the stimulation of international co-operation.
Money laundering and the financing of terrorism are serious crimes that threaten to destabilise the global economy.
The Egmont Group was created to provide FIUs around the world a forum to exchange information confidentially to combat money-laundering, the financing of terrorism and other predicate offences.