EU Initiative on Cooperation between Financial Intelligence Units on Information Exchange

In December 1999, the Finnish Government proposed an initiative in view of the adoption of a Council Decision on cooperative arrangements between financial intelligence units of the EU members in respect of exchanging information. The proposed initiative refers to the Amsterdam European Council’s Action Plan to combat organized crime approved on June 16 and 17, 1997. The Action Plan recommended in point 26(e) that there should be improved cooperation between contact points competent to receive suspicious transaction reports pursuant to Council Directive 91/308/EEC of June 10, 1991, on prevention of the use of the financial system for the purpose of money laundering…[more]