Today Europe is a region where borders between nations can often be crossed without any controls. This development has been accompanied by an increase in international organized crime. As a result of their national law, a number of European countries, such as the Federal Republic of Germany, Austria, and Switzerland, are in a position to cooperate extensively with other countries in criminal prosecution and the execution of sentences without an appropriate treaty under international law. Other European countries are only able to cooperate in such a way through bilateral or multilateral treaties. The most important of these are the conventions concluded within the framework of the Council of Europe. The conventions of most significance to a legal practitioner are the European Convention on Extradition; the European Convention on Mutual Assistance in Criminal Matters; the European Convention on the Suppression of Terrorism; the European Convention on the Transfer of Proceedings in Criminal Matters; the Convention on the Transfer of Sentenced Persons; the Convention on Laundering, Search Seizure and Confiscation of the Proceeds from Crime; and the Agreement on Illicit Traffic by Sea Implementing Article 17 of the United Nations Convention Against Illicit Traffic in Narcotic Drugs and Psychotropic Substances. The transborder prosecution of criminal offenses of medium and lesser gravity is governed by the resources available, which are limited in Europe. Asset sharing is an important policy to aid in this deficiency. Under asset sharing, a requested state that cooperates in tracing illegal cash is allowed to retain some of the laundered money.