AG/RES. 1545(XXVIII-O/98)

STUDY OF THE ADVISABILITY OF PREPARING A DRAFT INTER-AMERICAN CONVENTION TO COMBAT MONEY LAUNDERING

(Resolution adopted at the third plenary session, held on June 2, 1998)

THE GENERAL ASSEMBLY,

HAVING SEEN:

The report of the Permanent Council on the study of the advisability of preparing a draft Inter-American Convention to Combat Money Laundering (CP/doc.3041/98); and

The Final Report of the Meeting of the Group of Experts of the Inter-American Drug Abuse Control Commission (CICAD) on Money Laundering, held in Santiago, Chile, in October 1997 (CICAD/LAVEX/doc.12/97);

CONSIDERING:

That, in resolution AG/RES. 1459 (XXVII-O/97), "Combating Money Laundering," the General Assembly extended the mandate given to the Working Group to Study a Draft Inter-American Convention on Money Laundering so that it could continue to study the advisability of preparing a draft inter-American convention on the matter; and

That, in resolution AG/RES. 1459 (XXVII-O/97), the CICAD Group of Experts was requested to examine the various national and international instruments in force on this subject and present a technical analysis providing a basis for study and decisions by the Working Group; and

MINDFUL of the work being done by the CICAD Group of Experts on Money Laundering,

RESOLVES:

1. To thank the Inter-American Drug Abuse Control Commission (CICAD) for the information presented to the Permanent Council Working Group on Money Laundering.

2. To reiterate to the CICAD Group of Experts that it should continue to examine, in coordination with the Executive Secretariat, and from an essentially technical perspective, the various national and international instruments in force on this subject and present a technical analysis providing a basis for study and decisions by the Working Group on Money Laundering.

3. To urge the governments of member states that have not yet done so to transmit to CICAD the bilateral agreements and internal legislation on combating money laundering.