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Russia signs Council of Europe convention on criminal income

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Russia has signed the Council of Europe's convention on income obtained through criminal means and the financing of terrorism, the Foreign Ministry said on Thursday.
MOSCOW, January 29 (RIA Novosti) - Russia has signed the Council of Europe's convention on income obtained through criminal means and the financing of terrorism, the Foreign Ministry said on Thursday.

The Convention on Laundering, Search, Seizure and Confiscation of the Proceeds from Crime and on the Financing of Terrorism was concluded on May 16, 2005 and entered into force on May 1, 2008.

"The signing by Russia of the convention is one more proof of Russia's commitment to an uncompromising struggle with these crimes," the ministry said on its website. The document was signed on January 26, it said.

The statement said Russia also "confirmed its readiness to continue actively participating in work in the interests of joint prevention and countering new challenges and threats to international security."

President Dmitry Medvedev ordered the Foreign Ministry to sign the convention in December.

Experts believe the move could bring serious changes to Russian law, allowing people to be tried for money laundering without evidence of the original crime and the reintroduction of the practice of confiscating the proceeds of laundering money obtained through criminal means.

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