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Chaired jointly by FinCEN and the Cellule de Traitement des Informations Financieres (CTIF) of Belgium, the meeting in Brussels enabled participants to become acquainted with the already existing FIUs and to open communication channels. It initiated discussion among these organizations on practical ways for information sharing. The issues identified by the Egmont Group continued to be developed through the efforts of three working groups and were once again addressed in a subsequent Egmont meeting in Paris on 30 November 1995.
The Egmont Group is an unofficial organization of the several dozen FIUs in existence thus far. The existence of the group is a reflection on the success of Financial Action Task Force Recommendation 24: the creation of a centralized authority to take in and analyze suspicious transaction reporting.
In May 1995, FinCEN launched a financial intelligence unit (FIU) orientation program for foreign counterpart agencies. This initiative contributed significantly to the enhancing of the cooperation between these agencies. Beginning with three representatives of the Netherlands Meldpunt Ongebruikelijke Transacties (MOT), FinCEN provided a two-week structured series of briefings on its various functions and responsibilities. A one-week version of the orientation was repeated in June for a seven member delegation of Polish officials responsible for drafting legislation that will establish an FIU in that country. In October the two-week program was used for a representative of France's Traitement du Renseignement et Action Contre les Circuits Financiers Clandestins (TRACFIN).
FinCEN became more involved in assisting countries of Eastern Europe and the former Soviet Union in establishing financial information units (FIUs). Finding widespread support among Polish officials for creation of such a unit, FinCEN organized a money laundering seminar in Warsaw, Poland, for approximately 40 government officials in February 1995. The conference also included participation by representatives from Belgian, British, and French FIUs. The Polish Ministry of Finance has taken the lead in sponsoring necessary legislation to create an FIU. In September, FinCEN met with officials of the Russian government to discuss holding a similar seminar in Moscow. The response from these officials was positive.
In 1995, FinCEN started working with the INTERPOL Proceeds of Crime Group (FOPAC) on an analytical project to assess the money laundering situation in countries of the Eastern Europe and the former Soviet Union. In the first part of the year, FinCEN and FOPAC worked to develop a questionnaire for use during visits to each of the 23 countries encompassed by the project. The questionnaire addresses money laundering trends, the financial services sector, and relevant legislation for use in information gathering. During the second half of the year, FinCEN and FOPAC representatives visited seven countries in the region, including Estonia, Latvia, Lithuania, Russia, Romania, Moldova, and Poland.