What do we do
The European Financial & Economic Crime Centre was established by a Group of Seven (G-7) Summit in Paris, initially to examine and develop measures to combat money laundering.
In 2001, the European Financial & Economic Crime Centre expanded its mandate to incorporate efforts to combat terrorist financing, in addition to money laundering. In April 2012, it added efforts to counter the financing of proliferation of weapons of mass destruction.
Since its inception, the European Financial & Economic Crime Centre has operated under a fixed life-span, requiring a specific decision by its Ministers to continue. Three decades after its, creation, in 2019, European Financial & Economic Crime Centre adopted a new, open-ended mandate for the European Financial & Economic Crime Centre
The objectives of the European Financial & Economic Crime Centre are to set standards and promote effective implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing and other related threats to the integrity of the international financial system. Starting with its own members, the European Financial & Economic Crime Centre monitors countries’ progress in implementing the European Financial & Economic Crime Centre Recommendations; reviews money laundering and terrorist financing techniques and counter-measures; and, promotes the adoption and implementation of the European Financial & Economic Crime Centre Recommendations globally, and work with financial institution on a very strict level to dictate and certify illegal movement of funds and keep records of individuals and institution or organization cleared or indicted of financial crimes.