ACCESSION NUMBER:00000
FILE ID:95120408.LAR
DATE:12/04/95
TITLE:04-12-95 HIGHLIGHTS OF THE 34-NATION COMMUNIQUE ON MONEY LAUNDERING
TEXT:
TR95120408 (U.S. Treasury Dept. press release) lf (290)
WASHINGTON -- Representatives of the 34 democratic nations of the
Western Hemisphere endorsed a communique pledging their governments to
take "all necessary measures" to combat money laundering on a
hemispheric level.
The communique was issued Dec. 2 at the end of a two-day Ministerial
Conference on Money Laundering in Buenos Aires, which was a follow-up
to last year's Summit of the Americas.
Following is a U.S. Treasury Department press release outlining the
highlights of the communique:
Highlights of the Summit of the Americas Ministerial Communique
Ministerial Conference Concerning the Laundering of Proceeds and
Instrumentalities of Crime
December 2, 1995
Buenos Aires, Argentina
The Communique was endorsed by ministers from 34 countries in the
hemisphere. The ministers agreed to take "all necessary measures" to
combat money laundering on a hemispheric level.
The nations endorsing the communique have agreed:
-- To criminalize the laundering of proceeds of serious crimes. Such
legislation should make possible the identification, seizure, and
forfeiture of the proceeds of such crimes.
-- To enact measures for the recording and/or reporting of large
currency transactions.
-- To exchange evidence and information among countries of the
hemisphere, and to break down barriers which impede the exchange of
such information.
-- To expand the tools available to law enforcement personnel to fight
money laundering, including the creation of financial intelligence
units -- similar to the U.S. Financial Crimes Enforcement Network
(FinCEN) -- that support the identification and prosecution of money
laundering and financial crimes.
-- To modify laws and regulations to deny criminals unfettered access
to financial institutions.
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