Considerations on JAI(1999)5 - Initiative of Finland in view of the adoption of a Council Decision concerning arrangements for cooperation between financial intelligence units of the Member States in respect of exchanging information

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dossier JAI(1999)5 - Initiative of Finland in view of the adoption of a Council Decision concerning arrangements for cooperation between financial ...
document JAI(1999)5
date October 17, 2000
 
(1) The action plan to combat organised crime was approved by the Amsterdam European Council on 16 to 17 June 1997(1). The action plan recommended, in particular in recommendation 26(e), that there should be an improvement in cooperation between contact points competent to receive suspicious transaction reports pursuant to Council Directive 91/308/EEC of 10 June 1991 on prevention of the use of the financial system for the purpose of money laundering(2).

(2) All Member States have set up financial intelligence units (FIUs) to collect and analyse information received under the provisions of Directive 91/308/EEC with the aim of establishing links between suspicious financial transactions and underlying criminal activity in order to prevent and to combat money laundering.

(3) Improvement of the mechanisms for exchanging information between the FIUs is one of the objectives recognised by the Money Laundering Experts' Group set up within the Multidisciplinary Group on Organised Crime, along with an improvement in the exchange of information between FIUs and the investigating authorities in Member States and in the multidisciplinary organisation of FIUs, to incorporate knowledge of the financial, law enforcement and judicial sectors.

(4) The Council conclusions of March 1995 highlighted the fact that the strengthening of systems for combating money laundering depends on closer cooperation between the different authorities involved in fighting it.

(5) The second Commission report to the European Parliament and the Council on the implementation of Directive 91/308/EEC identifies the difficulties which still appear to prevent the communication and exchange of information between certain units having a different legal status.

(6) It is necessary that close cooperation take place between the relevant authorities of the Member States involved in the fight against money laundering and that provision be made for direct communication between those authorities.

(7) Arrangements have already been successfully adopted by Member States in relation to this matter based mainly on the principles laid down in the model memorandum of understanding proposed by the informal worldwide network of FIUs referred to as 'the Egmont Group'.

(8) Member States must organise the FIUs in such a way as to ensure that information and documents are submitted within a reasonable space of time.

(9) This Decision does not affect any Convention or arrangement regarding mutual assistance in criminal matters between judicial authorities.