Monaco’s participation in the 10th Conference of the Parties to the Council of Europe Convention No. 198 ETS Strasbourg – 30 and 31 October 2018

On 30 and 31 October, the 10th Plenary Meeting of the Parties to the Convention of the Parties (COP) of CETS No. 198 on the subject of money laundering, tracing and seizure was held at the premises of the Council of Europe in Strasbourg and the confiscation of the proceeds of crime and the financing of terrorism, known as the Warsaw Convention.

This instrument, which was opened for signature in 2005 and entered into force on 1 May 2008, is considered an essential treaty of the Council of Europe. It is the first comprehensive international treaty, covering the prevention and suppression of money laundering and terrorist financing, and providing for international cooperation in these areas. 

It was signed by Rémy Mortier, Monaco’s Ambassador to the Council of Europe, on 1 September 2017.

The Principality was represented by Jenny Perrot and Jean-Marc Gualandi, members of SICCFIN, the Monegasque financial intelligence unit.

At this meeting, participants discussed and exchanged progress reports from some countries as well as thematic reports dealing respectively with States’ consideration of international recidivism and the return of confiscated property to a requested country. to the requesting State, so that the latter can compensate the victims of the offence or return such property to their rightful owner.

Several themes relating to the fight against money laundering and the financing of terrorism were also discussed, including the current challenges concerning the tracking of the proceeds of crime in the field of virtual goods (notably bitcoins).