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Image header Agence Europe
Europe Daily Bulletin No. 8148
Contents Publication in full By article 15 / 27
GENERAL NEWS / (eu) eu/money laundering

Thirteen parliaments adopt "Paris Declaration"

Paris, 11/02/2002 (Agence Europe) - Meeting at the National Assembly in Paris, representatives of thirteen EU parliaments (Sweden and Finland were not represented) adopted a "Paris Declaration Against Money Laundering", on Friday, stating that "black hole of the international financial system, shortcomings in co-operation between EU Member States can no longer be tolerated". Parliamentarians of countries candidates for EU accession and the Russian Duma were present as observers. The declaration recommends a harmonisation of procedures for the lifting of professional secrecy, the creation of a central register for bank accounts and a limit to payments in cash over a certain amount. To combat unco-operative countries or territories included on the list of the Financial Action Group Against Money Laundering of the OECD, the parliamentarians propose, notably, prohibiting financial establishments whose social headquarters are located in these countries of territories from opening subsidiaries, branches or offices in the EU and to hold the accounts of those responsible. In addition, they recommend harmonising incriminations and criminal penalties for financial crime. And the "swift implementation of the European arrest warrant".

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