Egmont Group launches Phase II of its project to boost FIUs’ role in asset recovery, focusing on stronger asset-freezing powers, cooperation, advanced intelligence tools, and private-sector partnerships

The report highlights that while many FIUs possess the legal authority to freeze assets, challenges persist in effectively utilizing these powers, especially in cross-border contexts. Key findings include the necessity for enhanced international cooperation, the establishment of robust domestic strategies, and the adoption of advanced financial intelligence tools. Recommendations emphasize the importance of empowering FIUs with comprehensive asset freezing capabilities…