98/699/JHA: Joint Action of 3 December 1998 adopted by the Council on the basis of Article K.3 of the Treaty on EU, on money laundering, the identification, tracing, freezing, seizing and confiscation of instrumentalities and the proceeds from crime - Main contents

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98/699/JHA: Joint Action of 3 December 1998 adopted by the Council on the basis of Article K.3 of the Treaty on European Union, on money laundering, the identification, tracing, freezing, seizing and confiscation of instrumentalities and the proceeds from crime

Official Journal L 333 , 09/12/1998 P. 0001 - 0003

JOINT ACTION of 3 December 1998 adopted by the Council on the basis of Article K.3 of the Treaty on European Union, on money laundering, the identification, tracing, freezing, seizing and confiscation of instrumentalities and the proceeds from crime (98/699/JHA)

THE COUNCIL OF THE EUROPEAN UNION,

Having regard to the Treaty on European Union and, in particular, Article K.3(2)(b) thereof,

Having regard to the initiative of the United Kingdom,

Having regard to the action plan of the High Level Group on Organised Crime approved by the Amsterdam European Council on 16 and 17 June 1997, and in particular recommendation 26(b) on strengthening the tracing and seizure of the proceeds from crime,

Having examined the views of the European Parliament following the consultation conducted by the Presidency in accordance with Article K.6 of the Treaty on European Union,

Having regard to the Joint Actions of 5 December 1997 establishing a mechanism for evaluating the application and implementation at national level for international undertakings in the fight against organised crime (1), and of 19 March 1998, establishing a programme of exchanges, training and cooperation for persons responsible for action to combat organised crime (Falcone Programme) (2),

Considering the commitment of Member States of the principles of the Council of Europe Convention on Laundering, Search, Seizure and Confiscation of the Proceeds from Crime 1990,

Having regard to the proposed Joint Action on making it a criminal offence to participate in a criminal organisation in the Member States of the European Union, and in particular to the offences covered by that Joint Action,

Considering the requirements of Council Directive 91/308/EEC of 10 June 1991 on prevention of the use of the financial system for the purpose of money laundering (3), and the 40 recommendations to combat money laundering of the Financial Action Task Force on Money Laundering (FATF) as formulated in 1996, and in particular recommendation 4 thereof,

Having regard to the Joint Action of 17 December 1996 concerning the approximation of the laws and practices of the Member States of the European Union to combat drug addiction and to prevent and combat illegal drug trafficking (4),

Mindful of the common objective of improving coordination between law enforcement authorities,

Recalling the Joint Action on the creation of a European Judicial Network, adopted by the Council on 29 June 1998 (5),

Whereas the potential for disrupting criminal activity in the field of organised crime, by more effective cooperation between Member States in identifying, tracing, freezing or seizing, and confiscating the assets deriving from crime, is being improved;

Whereas mutually compatible practices are making cooperation at European level more efficient at identifying, tracing, freezing or seizing, and confiscating illegal assets;

Whereas recommendation No 16 of the abovementioned action plan to combat organised crime emphasised the need to accelerate procedures for judicial cooperation in matters relating to organised crime, while considerably reducing delay in transmission and responses to requests;

Considering the Member States' adherence to the 1959 European Convention on Mutual Assistance in Criminal Matters;

In the light of the United Nations Convention against Illicit Traffic in Narcotic Drugs and Psychotropic Substances 1988 and the 1998 United Nations General Assembly Special Session on Drugs;

Recognising the achievement of the 1996 Dublin Seminar on asset confiscation in identifying obstacles to effective cooperation;

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