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CoE Parliamentary Assembly adopts Resolution on Financial Intelligence Units

headline Strasbourg 13 April 2021
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CoE Parliamentary Assembly adopts Resolution on Financial Intelligence Units

The Parliamentary Assembly of the Council of Europe (PACE) has adopted Resolution 2365 (2021) and the related Recommendation 2195 (2021) “Urgent need to strengthen financial intelligence units – Sharper tools needed to improve confiscation of illegal assets”. These documents are the outcome of an extensive effort by the PACE to promote the development of confiscation and AML/CFT measures, and in particular the FIUs. Most notably the Resolution calls for the effective implementation of Article 14 of the Council of Europe Warsaw Convention CETS 198, which allows the postponement of suspicious transactions by FIUs. Furthermore, it calls on all CoE member-states to reinforce the resources and status of FIUs, as well as interagency and international cooperation.

Full text of the PACE Resolution and Recommendation: Link