Decision 2000/642 - Arrangements for cooperation between financial intelligence units of the Member States in respect of exchanging information - Main contents

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Council Decision of 17 October 2000 concerning arrangements for cooperation between financial intelligence units of the Member States in respect of exchanging information

Official Journal L 271 , 24/10/2000 P. 0004 - 0006

Council Decision

of 17 October 2000

concerning arrangements for cooperation between financial intelligence units of the Member States in respect of exchanging information

(2000/642/JHA)

THE COUNCIL OF THE EUROPEAN UNION,

Having regard to the Treaty on European Union, and in particular Article 34(2)(c) thereof,

Having regard to the initiative of the Republic of Finland,

Having regard to the opinion of the European Parliament,

Whereas:

• (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,

HAS ADOPTED THIS DECISION:

Article 1

• 1. 

  Member States shall ensure that FIUs, set up or designated to receive disclosures of financial information for the purpose of combating money laundering shall cooperate to assemble, analyse and investigate relevant information within the FIU on any fact which might be an indication of money laundering in accordance with their national powers.

• 2. 

  For the purposes of paragraph 1, Member States shall ensure that FIUs exchange, spontaneously or on request and either in accordance with this Decision or in accordance with existing...

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