The Council of Europe adopted the Strasbourg Convention of 8 November 1990 on laundering, search, seizure and confiscation of the proceeds of crime.

Within the framework of the Council of Europe the evaluation program on anti-money laundering measures (PC-R-EV, a select committee of experts in charge of evaluating measures on fighting money laundering and recently renamed Moneyval) started in 1997. Moneyval is a FATF-style regional body that analyses the compliance with the FATF-Recommendations by its 30 member states (members of the Council of Europe with the exception of the FATF member states).

In 2008 the convention of 1990 was broadened to include terrorist financing given that financing can not only take place through money laundering but also through legal activities.

The Council of Europe provides technical assistance to its member states in order to strengthen their ability to address money laundering risks.