NCJ Number
189407
Date Published
2001
Length
29 pages
Annotation
This report presents relevant excerpts from the main United Nations instruments that specify the United Nations' response to global money laundering.
Abstract
Excerpts that pertain to money laundering are presented from the 1988 United Nations Convention Against Illicit Traffic in Narcotic Drugs and Psychotropic Substances; the 2000 United Nations Convention Against Transnational Organized Crime; the 1988 Political Declaration and Action Plan Against Money Laundering; and the Naples Political Declaration and Global Action Against Organized Transnational Crime. The United Nations' rationale in its fight against money laundering is to attack transnational criminal organizations at their weak point. Money generated by criminal activities is difficult to hide, and sometimes constitutes primary evidence of the crime. The U.N.'s Office for Drug Control and Crime Prevention has been mandated to ensure that there are no gaps or loopholes in the international machinery to counter money laundering by assisting Member States in the implementation of their anti-money laundering policies, including the enactment of relevant legislation. The United Nations Convention Against Illicit Traffic in Narcotic Drugs and Psychotropic Substances, adopted in December 1988, was the first international instrument to address the issue of proceeds of crime and to require States to establish money laundering as a criminal offense. Ten years after the 1988 convention, the U.N. General Assembly upgraded and updated it through the adoption of a plan of action, "Countering Money Laundering," to fine-tune and further strengthen the action of the international community against the global criminal economy. The United Nations Convention Against Transnational Organized Crime was opened for signing in December 2000. The scope of money laundering under the terms of the convention includes proceeds derived from all serious crimes. The convention urges State parties to cooperate with one another in the detection, investigation, and prosecution of money laundering. Parties are obliged to reinforce requirements for customer identification, recordkeeping, and the reporting of suspicious transactions. It is also recommended that parties establish financial intelligence units to collect, analyze, and disseminate information.