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70 Travaux préparatoires: United Nations Convention against Transnational Organized Crimemoney-laundering, within its competence, in order to deter and detect all forms ofmoney-laundering, which regime shall emphasize requirements for customer identification,record-keeping and the reporting of suspicious transactions;“(b) Without prejudice to articles [14 and 19] of this Convention, ensure thatadministrative, regulatory, law enforcement and other authorities dedicated to combatingmoney-laundering (including, where appropriate under domestic law, judicialauthorities) have the ability to cooperate and exchange information at the nationaland international levels [within the conditions prescribed by its domestic legislation].“2. For the purposes of implementing and applying the provisions of this article[and article 4 bis], States Parties shall adopt and adhere to the international standardsset by the Financial Action Task Force on Money Laundering, as set out forreference in annex [...] to this Convention and as endorsed by the General Assemblyin its resolution S-20/4 of 10 June 1998 on countering money-laundering.“[3. With respect to the monitoring of implementation by States Parties of theobligations set forth in this article [and article 4 bis], and without prejudice to theapplication of article [23] to other provisions of this Convention, a State Party shallbe deemed to be in compliance with article [23] if that State Party is subject to andparticipates in a regular process of peer review conducted by the Financial ActionTask Force on Money Laundering or other comparable regional body that assessesimplementation of regimes against money-laundering as set forth in this article.]“Option 3 12“1. Each State Party:“(a) Shall institute a comprehensive domestic regulatory and supervisory regimefor banks and non-bank financial institutions, and other bodies particularly susceptibleto money-laundering, within its competence, in order to deter and detect all formsof money-laundering, which regime shall emphasize requirements for customer identification,record-keeping and the reporting of suspicious transactions;“(b) Shall, without prejudice to articles [14 and 19] of this Convention, ensurethat administrative, regulatory, law enforcement and other authorities dedicated tocombating money-laundering (including, where appropriate under domestic law, judicialauthorities) have the ability to cooperate and exchange information at the nationaland international levels within the conditions prescribed by its domestic legislationand, to this end, shall consider the establishment of a financial intelligence unit toserve as a national centre for the collection, analysis and dissemination of informationregarding potential money-laundering and other financial crimes.“2. States Parties shall consider implementing feasible measures to detect andmonitor the movement of cash and appropriate negotiable instruments across theirborders, subject to safeguards to ensure proper use of information and without impedingin any way the freedom of legitimate capital movements. The measures mayinclude a requirement that individuals and businesses report cross-border transfers ofsubstantial quantities of cash and appropriate negotiable instruments. 1312The text of option 3 was drafted by an informal group convened at the request of the Chairman at the fifth sessionof the Ad Hoc Committee (A/AC.254/L.83), but was not discussed in detail at that session.13One delegation indicated that it did not support the inclusion of this paragraph in this proposed alternative text.