State Duma committee backs Convention on confiscation of proceeds from crime
MOSCOW, July 10 (RAPSI) – The State Duma Committee on Foreign Affairs has recommended that MPs ratify the Council of Europe Convention on Laundering, Search, Seizure and Confiscation of the Proceeds from Crime and on the Financing of Terrorism.
On June 26, President Vladimir Putin submitted the Convention to the lower house of Russian parliament for ratification.
The Convention was signed on behalf of the Russian Federation on January 26, 2009, in Strasbourg.
Ratification of the Convention will enhance the efficiency of Russia’s cooperation with other countries in anti-money laundering and combating the financing of international terrorism and provide additional features for development of international cooperation of competent authorities in laundering, search, seizure and confiscation of the proceeds from crime, an explanatory note to the document reads.