We discuss the spectral and dynamical properties of quantum systems of N particles on the lattice of arbitrary dimension, with a Hamiltonian which in addition to the kinetic term includes a random potential with parameters of the model are the strength of the disorder and the strength of the interparticle interaction. We present a proof that for all N there are regimes of high disorder, and/or weak enough interactions, for which the system exhibits spectral and dynamical localization. The localization bounds are expressed in terms of exponential decay in the Hausdorff distance in the configuration space. The results are derived through the analysis of fractional moments of the N-particle Green function, and related bounds on the eigenfunction correlators. (Joint work with Michael Aizenman).