Explanation:

The Egmont group is an international cooperation of Financial Intelligence Units (FIUs) for the
promotion of international co-operation in the fight against money laundering and financing of
terrorism.The Group was created in a meeting at Egmont Arenberg Palace in Brussels, Belgium where
the participants decided to establish an informal network of FIUs. The Egmont Group Secretariat was
established in July 2007 and is based in Canada.The Group provides a platform for the secure exchange of
expertise and financial intelligence to combat money laundering and terrorist financing (ML/TF). This is
critically relevant as FIUs are dedicated to support national and international efforts to counter terrorist
financing

• Financial Intelligence Units function as a national centre for the receipt and analysis of suspicious transactions, information about money laundering, other related offences and financing of terrorism. FIUs in most countries has administrative and law enforcement nature.
•  In India, the FIU- IND was set by the Government of India in 2004 as the central national agency responsible for receiving, processing, analysing and disseminating information relating to suspect financial transactions. The Financial Intelligence unit of India has to submit reports to the Ministry of Finance.
• India will host the next edition of the "No Money For Terror‘ conference to be held in 2020. The "No Money For Terror" conference is organised by Financial Intelligence Units (FIUs) of over 100 countries, jointly called The Egmont Group.