On 7 November 2017, Greece ratified the Council of Europe Convention on Laundering, Search,...
On 28 September 2017, Russian Federation ratified the Council of Europe Convention on Laundering,...
On the 1st September 2017, Monaco signed the Council of Europe Convention on Laundering, Search,...
On 9 August 2017, Azerbaijan ratified the Council of Europe Convention on Laundering, Search,...
On 20 June 2017, Germany ratified the Council of Europe Convention on Laundering, Search, Seizure...
At a glance
The 2005 Convention on Laundering, Search, Seizure and Confiscation of the Proceeds from Crime and on the Financing of Terrorism (CETS 198), building on the success of the 1990 Council of Europe Convention (ETS 141) in one comprehensive instrument:
- provides States with enhanced possibilities to prosecute money laundering more effectively;
- equips States Parties with further confiscation tools to deprive offenders of criminal proceeds;
- provides important investigative powers including measures to access banking information for domestic investigations and for the purposes of international co-operation;
- covers preventive measures, and the role and responsibilities of financial intelligence units and the principles for international co-operation between financial intelligence units;
- applies all its provisions to financing of terrorism; covers the principles on which judicial international co-operation should operate between Contracting States Parties.
The new Convention provides for a monitoring mechanism through a “Conference of the Parties” to ensure that its provisions are being applied.
The report covers the activities of the Conference of the Parties to CETS198 as a Council of Europe monitoring mechanism during the period 2009-2014. It outlines the work done so far and provides a brief horizontal review of compliance with the provisions of international standards. The COP’s action against money laundering is central to the fight against organised crime and complements the Council of Europe’s action against corruption, human trafficking and economic crime in general. The COP, through monitoring, training and awareness-raising, will continue to require states parties to use the provisions of the convention more regularly in the way that they were intended: to deliver better results in the investigation, prosecution and conviction of serious money laundering and terrorist financing cases, and related confiscations.