ICPO-Interpol - General Assembly 56th session - Nice - 23th-27th November 1987

BEARING IN MIND the Resolution No. AGN/55/RES/18 (Belgrade, 1986) and the decision to create a working group to improve co-operation between the banking and financial institutions and associations and law enforcement agencies,

HAVING NOTED the contents of Report No. 18 entitled 'Working Group to Improve Co-operation between the Law Enforcement and Banking Communities' and the Memorandum of Co-operation contained therein considered at the meeting at the Interpol General Secretariat in March 1987 and in particular, the conclusions at the end of the Memorandum, according to which it is necessary:

1. To strengthen further co-operation between the law enforcement and banking communities,
2. To examine and develop ways and means in which co-operation and consultation between the law enforcement and banking communities could be improved with a view to combating international fraud,
3. To facilitate a productive exchange of information between the law enforcement and banking communities in accordance with national legislation,
4. To consider practical ways in which banking communities might assist law enforcement in the investigation of frauds and the apprehension of perpetrators of fraud,
5. That Member States encourage the adoption, by the banking community, of a code of conduct similar to that known as the Swiss Agreement of 1st July 1987,
6. That Bank Regulators, Bank Associations, Banks and Law Enforcement Agencies establish a contact point for law enforcement matters,
7. That Banks do their utmost to investigate the background of and take necessary security precautions respecting persons seeking employment in or purchasing a bank,
8. That Interpol representatives work with Bank Regulators to ensure that financial institutions report violations of law as well as informing financial institutions of suspected violators, and
9. That Member States be encouraged to adopt laws that make the laundering of monies obtained from criminal enterprise a criminal offence,

REALIZING that international financial crime is now widespread and is increasing throughout the world,

RECOGNIZING that law enforcement agencies could act more effectively if they received early notification from banks of cases of international fraud causing losses to such banks,

BELIEVING that banks would not be victims of fraud so often if they possessed better information on perpetrators of fraud and their modus operandi,

The ICPO-Interpol General Assembly, meeting in Nice from 23rd to 27th November 1987 at its 56th session:

INVITES the NCBs to rapidly transmit relevant information on international frauds to other NCBs and to the General Secretariat and also, when this is legally possible, to the banking community in their respective countries;

RECOMMENDS that the Working Group created at the 55th General Assembly shall continue its work to explore ways and means of improving co-operation between banking and financial institutions and associations on the one hand, and law enforcement agencies on the other;

RECOMMENDS further that the Working Group explore the issues related to the abuse by perpetrators of fraud of off-shore banking.