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Thursday, 25.04.2024, 15:33
Lithuania signs Council of Europe's convention against money laundering
BC, Vilnius, 29.10.2015.
Print version
Print versionThe Ambassador Extraordinary and Plenipotentiary of Lithuania to the Council of Europe, Laima Jureviciene, and the Deputy Secretary General of the Council of Europe, Gabriella Battaini-Dragoni, have signed the Council of Europe's Convention on Laundering, Search, Seizure and Confiscation of the Proceeds from Crime and on the Financing of Terrorism, informs LETA/ELTA.
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The convention will enter into effect when it is ratified by the Lithuanian Parliament.
The convention is the first one to encompass the control and prevention of money laundering and financing of terrorism. It ensures prompt access to financial information about assets of criminal organisations and terrorist groups. This creates conditions for law enforcement institutions to successfully prevent the activities of such organisations. The convention also establishes its implementation mechanism.
The convention was adopted on 15 May 2005 in Warsaw and has been ratified by 26 countries, 12 another countries have signed the convention but are yet to ratify it.
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