Closing remarks for the Director General
Council of Europe Informal Ministerial Conference “From rules to results: a judicial agenda for the fight against financial crime”

Excellencies, Ministers, Distinguished Delegates, Colleagues and Partners,

As we conclude this conference, allow me first of all to express my sincere gratitude to the Principality of Monaco for its leadership in bringing us together around an issue of growing importance for our democracies, our economies and our security.

I would also like to thank all participants for the quality of today's discussions and for the openness with which you have shared both your achievements and your challenges.

If there is one message that has emerged clearly throughout your exchanges, it is that financial crime is not simply a challenge of criminal justice. It is a challenge to the rule of law itself.

Money laundering, the concealment of criminal assets and illicit financial flows do more than generate unlawful profits. They undermine public institutions, distort fair competition, facilitate corruption and organised crime, and erode citizens' trust in democratic governance.

No country is immune from these threats. Criminal networks operate across borders, adapt rapidly to technological developments and exploit instability wherever they find it. Our response must therefore be equally determined, equally agile and equally international.

Today's discussions have highlighted the considerable progress achieved over recent decades. More than three quarters of countries worldwide now have anti-money laundering and counter-terrorist financing frameworks that comply with FATF standards, compared with barely one third a decade ago.

These achievements matter.

But they also bring with them a responsibility.

As the title of this conference reminds us, our collective credibility will ultimately be measured not by the rules we adopt, but by the results we achieve.

And the results tell us that much work remains to be done.

Across the Council of Europe and MONEYVAL’s membership, more than four out of five jurisdictions still require fundamental or major improvements in the effectiveness of money laundering investigations and prosecutions. Too often, we see a continued focus domestically on simple cases, while the most sophisticated cross-border schemes remain beyond reach.

The scale of the challenge should not be underestimated, even if the sources of illicit funds seem to have barely changed. Globally (including in Europe), drug trafficking, corruption, fraud, and tax crimes are persistent drivers for illicit finance. 

We must also remain attentive to the evolving risks associated with terrorist financing. 

Particularly concerning is the growing involvement of children and young people in online radicalisation and terrorist activities. They appear to be often radicalized online and use digital platforms and microfinancing methods that blend in with routine banking, social benefits, and even gaming transactions, making early detection  and disruption a daunting challenge. 

Your discussions have shown that we know what works.

We know that early detection matters. We know that financial intelligence is most effective when it can be transformed into judicial action. We know that cooperation between Financial Intelligence Units, law enforcement authorities, prosecutors and judges is indispensable if we are to stay ahead of increasingly sophisticated criminal networks.

We also know that following the money remains one of the most powerful tools available to us.

Yet asset recovery continues to be one of the weakest links in the chain. Today, only a small minority of jurisdictions achieve satisfactory results in confiscating successfully criminal proceeds. 

This is why the implementation of the Warsaw Convention and prompt signature and entry into force of its new Additional Protocol is so important. 

Another clear message from today's discussions concerns sanctions.

Citizens rightly expect that financial crime carries real consequences. Whether through confiscation measures, criminal penalties, professional restrictions or corporate liability, sanctions must be effective, proportionate and dissuasive. Above all, they must be enforced.

Excellencies,

At a time when citizens increasingly expect institutions to deliver tangible results, our responsibility is clear.

We must ensure that illicit assets can no longer be hidden behind borders, complex structures or technological innovation.

As you return to your capitals, the challenge will be to transform today's shared understanding into concrete reforms, stronger institutions and tangible results. Whether in combating money laundering, recovering criminal assets or disrupting the financing of terrorism, our citizens will judge us not by the standards we adopt, but by our ability to implement them effectively while upholding the values that define our democracies.

Thank you.