§ Mr. BercowTo ask the Secretary of State for the Home Department if he will make a statement on progress made at the Council of Ministers on fixing minimum standards for tracing and confiscating assets from crime. [128258]
§ Mr. Charles ClarkeThe European Union Heads of State and Government meeting at the special European Council at Tampere in October 1999 called for action with regard to the approximation of criminal law and procedures on money laundering, with particular reference to the tracing, freezing and confiscation of the proceeds of crime. It has been proposed that a new ad hoc working group, which has still to be set up, will carry this work forward.
Separate discussions are taking place with regard to the application of the principle of mutual recognition to asset freezing and restraint. This will involve consideration of the minimum standards which should be applied to permit recognition of orders between member states.
The incoming French Presidency of the European Union has made action against financial crime and money laundering one of its priorities and it is clear that this will involve some action in the area of the tracing and confiscation of the proceeds of crime.