India to host next edition of ‘No Money For Terror’ conference in 2020

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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 conference is organised by Financial Intelligence Units (FIUs) of over 100 countries, jointly called The Egmont Group.

India will host the next conference in India in 2020, Reddy, Union Minister of State for Home, said at the ongoing 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, and decided to establish an informal network of FIUs for the stimulation of international cooperation.

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.

SOURCE

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