WRITTEN QUESTION No. 2276/98 by Glyn FORD to the Commission. Criminal financial assets
Date: 1998-07-22
Institutions: European Parliament, FORD
Subjects: European Central Bank, Europol, capital transfer, drug traffic, euro, exchange transaction, fraud, industrial counterfeiting, money laundering, national currency

C 118/50

Official Journal of the European Communities

EN

29.4.1999

Answer given by Mrs Bjerregaard on behalf of the Commission

(17 September 1998)

The Commission is aware of the allegations about presumed breaches by the British authorities of certain
provisions of Directive 92/43/EEC on the conservation of natural habitats and of wild fauna and flora (1),
in connection with the Sefton coast road bridges development.

The Commission is currently considering this matter and has contacted the British authorities. The
Commission is awaiting the United Kingdom(cid:146)s response.

In connection with the third question raised by the Honourable Member, the Commission is responsible
for ensuring that the provisions of the Treaty and the measures taken under it are properly applied by
Member States. When the Commission considers that a Member State has failed to fulfil an obligation
under the Treaty, it may take action under Article 169 of the EC Treaty. However, the Commission does
not have powers to grant interim relief to stop projects in Member States.

(1) OJ L 206, 22.7.1992.

(1999/C 118/060)

WRITTEN QUESTION E-2276/98

by Glyn Ford (PSE) to the Commission

(22 July 1998)

Subject: Criminal financial assets

What steps is the Commission planning to take to utilise the unique opportunity available to identify
criminal financial assets at the instant of the conversion from national currencies to the euro?

Are there plans to enlarge Europol(cid:146)s remit to set up a financial unit to enable Europe-wide coordination
and cooperation, particularly with regards to drug monies?

Answer given by Mr de Silguy on behalf of the Commission

(25 September 1998)

All Member States have mechanisms in place to prevent misuse of the financial system to launder the
proceeds of criminal activities. These mechanisms are based to a large extent on Council Directive 91/308/
EEC on prevention of the use of the financial system for the purpose of money laundering (1). As it stands,
the Directive prohibits only the laundering of the proceeds of drug trafficking. However, all Member
States have made the laundering of money derived from a wider range of criminal activities a criminal
offence. The Commission is currently examining the possibility of updating the Directive and widening its
scope.

The obligations arising from the Directive will continue to apply in full at the time of the changeover to the
euro and will cover the exchange of notes and coins denominated in national currencies. The Commission
expects the banks to maintain their usual vigilance during the period preceding the introduction of euro
notes and coins and during the transition period itself, with a view to detecting any suspicious transactions.
It is continuing to examine the implications of the introduction of the euro for the combating of money
laundering, and it has been agreed that the issue will be discussed in the contact committee set up in
accordance with the above Directive.

Moreover, measures to prevent and combat counterfeiting will be needed in order to protect the euro. The
Council is currently working, with the Commission(cid:146)s active participation, to devise a comprehensive
approach including the various parties concerned: Europol, the European Central Bank (ECB) and the
Commission, particularly its anti-fraud unit (UCLAF). In this context, the Commission adopted on 22 July
1998 a specific communication to the Council, the European Parliament and the European Central Bank
on combating euro counterfeiting (2), in which it puts forward a number of suggestions for further
consideration.

(1) OJ L 166, 28.6.1991.
(2) COM(98) 474 final.