Naples summit communique: working together for sustained growth - Group of Seven 1994 Economic Summit and G-7 Plus One Political Meeting, Naples, Italy, July 8-10, 1994 - Transcript

US Department of State Dispatch, July, 1994

1. We are alarmed by the growth of organized transnational crime, including money laundering, and by the use of illicit proceeds to take control of legitimate business. This is a worldwide problem with countries in transition increasingly targeted by criminal organisations. We are determined to strengthen international cooperation to address this situation.

We welcome the UN Conference on Organized Transnational Crime to be held in Naples next October.

2. On money-laundering, we recognize the achievements of the FATF, which we set up in 1989, and reaffirm our support for its continued work over the next five years. In order to achieve our goal, we agree that counter-measures need to be implemented by FATF members and other countries with significant financial centres. Ultimate success requires that all Governments provide for effective measures to prevent the laundering of proceeds from drug trafficking and other serious crime or offences which generate a significant amount of proceeds.

3. We urge countries to adopt necessary legislation wherever appropriate.

Next Summit

Our discussions this year have convinced us of the benefits of a less formal summit procedure, as we agreed in Tokyo last year. In Naples, we have been able to have a freer exchange of views and to forge a closer understanding between us. Next year we look forward to an even more flexible and less formal summit.

We have accepted the invitation of the Prime Minister of Canada to meet in Halifax in [June] 1995.