OEA/Ser.P
AG/RES. 1655 (XXIX-O/99)
7 June 1999
Original: English

TECHNICAL ANALYSIS BY THE INTER-AMERICAN DRUG ABUSE CONTROL
COMMISSION (CICAD) ON THE STUDY OF THE ADVISABILITY OF
PREPARING A DRAFT INTER-AMERICAN CONVENTION
ON MONEY LAUNDERING

(Adopted at the first plenary session, held on June 7, 1999,
and pending review by the Style Committee)

THE GENERAL ASSEMBLY,

HAVING SEEN:

The Report of the Permanent Council on the study of a Draft Inter-American Convention on Money Laundering (CP/doc.3041/98);

The Final Report of the Meeting of the Group of Experts on Money Laundering of the Inter-American Drug Abuse Control Commission (CICAD), held in Buenos Aires, Argentina, in October 1998 (CICAD/doc.990/98); and

The Final Report of the twenty-fifth regular session of the Inter-American Drug Abuse Control Commission, held in Washington D.C., from May 3 to 7, 1999 (CICAD/doc.1018/99); and

CONSIDERING:

That, in resolution AG/RES. 1545 (XXVIII-O/98), "Study of the Advisability of Preparing a Draft Inter-American Convention to Combat Money Laundering," the General Assembly reiterated to the CICAD Group of Experts that it should continue to examine, in coordination with the Executive Secretariat, and from an essentially technical perspective, the various national and international instruments in force on this subject and present a technical analysis providing a basis for study and decisions by the Working Group on Money Laundering of the Permanent Council; and

That CICAD, at its twenty-fifth regular session, having taken note of a report of the Secretariat on this matter as well as comments by some members of the CICAD Group of Experts on the Secretariat's report and the interventions of a number of the members of CICAD, decided to request the Group of Experts to continue the technical analysis at its next meeting and to report thereon to CICAD at its twenty-sixth regular session, so that CICAD might present its report to the General Assembly through the Permanent Council of the Organization,
RESOLVES:

1. To thank the Inter-American Drug Abuse Control Commission (CICAD) for the information presented with respect to the status of its work in relation to AG/RES. 1545 (XXVIII-O/98).

2. To extend the mandate of the Permanent Council Working Group on Money Laundering so that it can utilize the technical analysis prepared by CICAD in order to arrive at a decision on the advisability of preparing an Inter-American convention on combating money laundering.