Council of Europe Monaco joins Convention on Laundering, Search, Seizure and Confiscation of the Proceeds from Crime and on the Financing of Terrorism

H.E. Mr Rémi Mortier and Ms Gabriella Battaini-Dragoni, Deputy Secretary General of the Council of Europe, during deposit of the Convention ratification instrument © DR

On Tuesday 23 April, H.E. Mr Rémi Mortier, Monaco’s Ambassador and Permanent Representative to the Council of Europe, deposited the instrument of ratification that makes the Principality the 35^th State Party to the Convention on Laundering, Search, Seizure and Confiscation of the Proceeds from Crime and on the Financing of Terrorism.

The Convention, which has been open for signature since 2005, will enter into force in Monaco on 1 August 2019. It is the first international instrument to address both prevention and combatting of money laundering and terrorist financing, updating a 1990 convention in order to expand states’ efforts to tackle the financing of terrorism through legal activities.

By joining the Convention, the Principality is confirming its steadfast determination to fight money laundering.