THE WARSAW CONVENTION CONFERENCE HAS CALLED ON STATES TO APPLY CORPORATE LIABILITY TO MONEY LAUNDERING OFFENCES EFFECTIVELY

On 20 January, the Council of Europe reported that the Conference of the Parties of Convention on Laundering, Search, Seizure and Confiscation of the Proceeds from Crime and on the Financing of Terrorism – aka the Warsaw Convention – has published a report which evaluates the extent to which 36 member states have legislative or other measures in place to ensure that legal persons can be held liable for money laundering offences when they are committed on their behalf and for their benefit.  The Warsaw Convention, opened for signature in Warsaw in 2005, is the first international treaty covering both the prevention and the control of money laundering and the financing of terrorism.  It says that 17 countries have fully transposed all the provisions of Article 10: Azerbaijan, Cyprus, Croatia, Georgia, Greece, Hungary, Italy, Latvia, Lithuania, Malta, Republic of Moldova, Romania, Portugal, San Marino, Serbia, Slovak Republic and Sweden.

https://search.coe.int/directorate_of_communications/Pages/result_details.aspx?ObjectId=0900001680a53541

The report is at –

https://rm.coe.int/c198-cop-2021-6prov-hr-art10-final/1680a53db0

Any modest contributions for my time and ongoing expenses are welcomed!  I have a page where you can do so, and where one-off contributions start as low as $3, at https://www.buymea3coffee.com/KoIvM842y

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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