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III INTERNATIONAL CONFERENCE ANTI-MONEY LAUNDERING AND AGAINST THE FINANCING OF TERRORISM. JULY 11th and 12th 2007
July 11 & 12 2007
HOTEL GRAN MELIA CARACAS - VENEZUELA

SEE POSTER



CONCLUSIONS AND RECOMENDATIONS


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1.Those in attendance acknowledge that, thanks to this event, the participating countries make progress when it comes to the design of strategies of international cooperation to identify actions that help in the fight against money laundering and financing of terrorism.

2.The Event promoters recognize and value the participation and involvement of civil society in the fight against money laundering. The organizers of the event emphasize the role of civil society in the process of cooperation when dealing with the phenomenon of money laundering and financing of terrorism.

3.All participants, national and international, wish to thank the Institute for Higher Law Studies and the Institute for Professional Studies, for their warm and kind hospitality.

4.All participants have decided to forward these conclusions and recommendations to the Venezuelan National Assembly, and other related entities and the AOS and the U.N. Permanent Councils to include these conclusions in their ordinary sessions as a step forward in our commitment to fight money laundering and the financing of terrorism.

5.Joint efforts by Governments, Law Enforcers and the private sector must be undertaken, so that money laundering-fighting entities can provide citizens and all who may require it, with information regarding money laundering prevention and detection. The appropriate entities must also guarantee the safety of all financial operations, legal trade in all its forms, the transfer of goods and all legal economic transactions.

6.All participating countries showed interest in uniting efforts through the implementation of projects that contribute to the prevention and control of those affected by money laundering. Cooperation is necessary to offer sustainable solutions against the problem. This will help promote business opportunities for social and economic development. The proposal entails a dialogue between the private sector, local governments and international entities in order to identify strategies which allow the private sector to lead efforts that translate in social responsibility.


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Money Laundering is a process in which proceeds obtained or generated through criminal activities are transferred or covered up in order to disguise their true nature and origin. In many cases terrorists finance their activities with funds derived from illegal operations. Criminals need to find ways to launder their funds in order to use them without attracting attention from the authorities.

1.It is necessary to appoint the president of the Organized Crime National Office. This will help in our efforts to sever the ties to money laundering entities that may exist within Venezuelan society. The aforementioned office would help consolidate national and international analytical functions, as well as policies, law enforcement, and regulation of financial activities and intelligence in the Bolivarian Republic of Venezuela. It would also help in developing and focusing all critical components of intelligence and financial data in order to detect any illegality; this is crucial for the development and design of methods to stop such illegalities. Another function of this appointment would be to apply sanctions and executive programs of regulation in an effective manner, working closely with embassies and private entities around the world, to strengthen the international coalition against money laundering and the financing of terrorists.

2.All affected countries must be accountable for the application of financial sanctions against persons and financial interests connected with terrorist groups or activities. Countries and organizations must periodically check the European Union’s list created on December of 2001 to detect persons and entities suspected or linked to money laundering and financing of terrorism in order to seize their assets. These international efforts to apply financial sanctions to a wide range of subjects related to money laundering represent a fundamental component of the world-wide campaign against the financing of terrorism. An effective program for the application of anti-money laundering laws must include improved multilateral operations and mutual judicial assistance regarding investigations and trial of money laundering crimes. It must also include cooperation in the extradition of those involved in such cases, when possible.

3.We recommend that an exchange of information be established and maintained between the private and public sectors in order to evaluate those mechanisms that may contribute to increase the prevention and control of money laundering. This will enable better trust and cooperation between the financial sector and the pertinent authorities. World-wide cooperation is in fact, the best way succeed in depleting the supply of money that criminals need to keep up their activities.

4.Private and Public institutions must pay especial attention to reports of money laundering and financing of terrorism, filed before the competent authorities. These reports will not derive in any harm, risk or prejudice against the institution or persons filing the reports. Those communicating their suspicions in good faith, will not be held as guilty, regardless of whether their knowledge of the activities reported was partial, complete, certain or ultimately not true.

5. Countries must have the faculties, capabilities and jurisdiction to take swift action in order to respond to requests made by other countries to identify, freeze, and seize the product or any other goods of value derived from criminal activities of money laundering and other related crimes. Arrangements must be made to coordinate procedures to confiscate and exchange seized funds. These countries must exercise valid procedures to extradite those accused for money laundering and all related activities

6. Countries must concentrate in the international agreements within the frame of each country’s internal regulations. Historically, when countries engage in the chase or international criminals, the issue arises of gathering of evidence that might be in a foreign country. To this end, international agreements must be improved, instructing police officers, prosecution lawyers, and the Judicial Powers to use these agreements in order to obtain evidence from other countries and facilitate the fight against money laundering crimes.

7.It is recommended to develop campaigns and educational programs through the media of each country with the following objective:

•Report all violent practices and criminal actions especially those related to terrorism and money laundering

•To broadcast information about the deceiving nature of terrorism and the organizations and entities involved in terrorist activities or financing of terrorism.

•Report the increment of the phenomenon of terrorism and how it takes advantage of different opportunities.

•Broadcast investigative specials that focus on the need to unite and develop criteria regarding a proactive (as opposed to reactive) policy to fight money laundering and the financing of terrorism.

•Implement basic criteria that entail that all actions against money laundering and the financing of terrorism can only be effective when supported by a true conviction and determination supported by a well-informed public opinion.


 
       
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Phone: (507) 832-52.47
info@antimoneylaundering.us

 
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