Common use of Money laundering and terrorism financing Clause in Contracts

Money laundering and terrorism financing. 1. The Parties shall cooperate in order to prevent the use of their financial and relevant non- financial systems for the laundering of the proceeds of criminal activities in general and drug offences in particular, as well as for the purpose of terrorism financing. That cooperation extends to the recovery of assets or funds derived from the proceeds of crime. 2. Cooperation in this area shall allow for exchanges of relevant information within the framework of the Parties' respective legislation and relevant international instruments as well as the adoption of appropriate standards to prevent and combat money laundering and the financing of terrorism equivalent to those adopted by relevant international bodies active in this area, such as the Financial Action Task Force on Money Laundering.

Money laundering and terrorism financing. 1. The Parties shall cooperate in order to prevent the use of their financial and relevant non- non-financial systems for the laundering of to launder the proceeds of criminal activities in general and drug offences in particular, as well as for the purpose of terrorism financing. That This cooperation extends to the recovery of assets or funds derived from the proceeds of crime. 2. Cooperation in this area shall allow for exchanges of relevant information within the framework of the Parties' respective legislation legis­ lation and relevant international instruments as well as the adoption of appropriate standards to prevent and combat money laundering and the financing of terrorism equivalent to those adopted by relevant international bodies active in this area, such as the Financial Action action Task Force on Money LaunderingLaundering (FaTF).

Money laundering and terrorism financing. 1. The Parties shall cooperate in order to prevent the use of their financial and relevant non- non-financial systems for the laundering of the proceeds of criminal activities in general and drug offences in particular, as well as for the purpose of terrorism financing. That cooperation extends to the recovery of assets or funds derived from the proceeds of crime. 2. Cooperation in this area shall allow for exchanges of relevant information within the framework of the Parties' respective legislation and relevant international instruments as well as the adoption of appropriate standards to prevent and combat money laundering and the financing of terrorism equivalent to those adopted by relevant international bodies active in this area, such as the Financial Action Task Force on Money Laundering.