Conference of European Union Parliaments Against Money Laundering
7 et 8 février 2002 ~ Assemblée nationale ~ Paris
PARIS DECLARATION AGAINST MONEY LAUNDERING
Final declaration of the Conference of European Union
Parliaments against money laundering
Criminal money laundering and financial crime have been on the constant increase over the last few years exploiting the potentialities given by the globalisation of financial markets; they represent a direct threat to the stability of the global economy and also for the security of our democratic societies.
The financing of terrorism uses very different systems and some of these use the legal economy, although it also resorts to the same instruments as all organised crime.
Without the global and coordinated action of States, crime prevention and law enforcement services and authorities will not be able to fight efficiently against those they pursue.
In the fight against money laundering and the use of the financial system by criminal networks, Europe’s exemplary behaviour must be without fault even if the efficiency of its action also depends on the awareness and support of all developed countries.
The persistence of legal mechanisms which lead to impenetrability in financial transactions, the use of ‘‘black holes’’ in the international financial system, and deficiencies in co-operation between European Union member states can no longer be tolerated.
The European Union has however not been inactive since it has updated the directive against money laundering and it has constantly worked on strengthening the European police and legal system which lags behind economic and monetary union.
The recent political agreement on the European warrant of arrest should also enable greater efficiency in the fight against terrorism and financial crime, provided it is quickly applied.
In a wider framework the Financial Action Task Force on Money Laundering has refined its analyses of the phenomenon and has defined criteria enabling non-cooperative countries and territories, and loopholes in the systems of cooperative countries to be identified.
Stemming from universal suffrage, the national parliaments must necessarily contribute to directing and stimulating the harmonisation of legislation and the cooperation of European Union Member States in compliance with the provisions of the European Convention for the Protection of Human Rights and Fundamental Freedoms, and differences between national legal systems.
Following a debate bringing together many European experts, MP’s and also academics and practitioners, the Conference of European Union Parliaments privileged four working subjects and formulated proposals for concrete measures in an attempt to improve efficiency in the fight against money laundering.
10b. In order to follow up and update the measures which it recommended during its opening meeting, the Conference of European Union Parliaments against money laundering has agreed to meet periodically.
Subject n° 1 : The transparency of capital movements
An efficient fight against money laundering and financial crime means being able to reconstruct the history of capital movements. The traceability of transactions and order makers is therefore a priority objective, but it comes up against several obstacles, including: