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07 November 2018 News flash

Monaco Takes Part in the 10th Conference of the Parties of the CETS Convention No. 198 of the Council of Europe - Strasbourg - 30 and 31 October 2018


On 30 and 31 October, the 10th Plenary Assembly of the Convention of the Parties (COP) to the CETS No. 198 on Laundering, Search, Seizure and Confiscation of the Proceeds from Crime and on the Financing of Terrorism, known as the Warsaw Convention, was held at the Council of Europe in Strasbourg.

This instrument, which was opened for signature in 2005 and entered into force on 1 May 2008, is considered an essential treaty of the Council of Europe.  It is the first comprehensive international treaty, as it covers the prevention and suppression of money laundering and the financing of terrorism, and provides for international cooperation in these areas.  It was signed by Rémy Mortier, Ambassador of Monaco to the Council of Europe, on 1 September 2017.

The Principality was represented by Jenny Perrot and Jean-Marc Gualandi, members of SICCFIN, the Monegasque financial intelligence unit.

At this meeting, the participants examined and discussed the progress reports of certain countries as well as thematic reports dealing respectively with consideration by States of international recidivism and on the restitution of property confiscated in a requested country to the requesting State, so the latter can compensate the victims of the crime or return this property to its rightful owner.

Several topics relating to the fight against money laundering and the financing of terrorism were also discussed, including the current challenges regarding the monitoring of proceeds of crime in the field of virtual goods (Bitcoins in particular).

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