The Financial Intelligence Unit (FIU), Autoriti Monetari Brunei Darussalam (AMBD), was announced as the winner of the prestigious Best Egmont Case Award (BECA) for the year 2020. This is a highly coveted achievement among the 164 members of the Egmont Group of FIUs.
This is the 10th year of the BECA competition, which received 24 cases from 19 member FIUs, where the case submitted by FIU, AMBD, was chosen as a finalist along with the case from FIU, Guatemala. This case was related to a trial involving criminal breach of trust and money laundering charges which concluded earlier this year.
The case study demonstrated an investigation that benefitted from the FIU’s contribution, through provision of intelligence that added value to the investigation, effective domestic and international cooperation, the use of innovative techniques and a successful outcome of the case – all of which are considered essential criteria for the Award.
The Egmont Group of FIUs was established in 1995, to fight against money laundering and financing of terrorism through international cooperation, especially in the areas of information exchange, training and sharing of expertise. The group has a membership of 164 FIUs from all over the world. BECA is an annual competition introduced in 2011 to recognise successful cases from which member-FIUs can learn and appreciate real-life examples that have been successfully prosecuted.
This marks only the second time an FIU in Southeast Asia has won this international award, following the success of Anti Money Laundering Council (FIU of the Philippines) in 2015. BECA winners in the past three years include Russia (Rosfinmonitoring) in 2017, Ukraine (State Financial Monitoring Service) in 2018, and Peru (Financial Intelligence Unit) in 2019.