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Day: 6 February 2022

This is Monaco’s new anti-financial crimes committee

by: Stephanie Horsman
06/02/2022
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The committee charged with combatting financial crimes in the Principality of Monaco has met for the first time with Minister of State Pierre Dartout at the helm.

It may be a mouthful to say, but the new Committee for the Coordination and Monitoring of the National Strategy to Combat Money Laundering, the Financing of Terrorism, the Proliferation of Weapons of Mass Destruction and Corruption is aiming to pack a punch against financial crimes in all their incarnations.

The group, which met for the first time on 3rd February under the leadership of Minister of State Pierre Dartout, ties in directly with the National Council’s unanimous passing of two new laws on 31st January, as reported by Monaco Life on Tuesday, involving the prevention and fight against crimes to do with money laundering, fraudulent virtual currency transfers, terrorism financing and other fiscal crimes.

During Thursday’s meeting, Minister of Finance and the Economy Jean Castellini presented the national strategy, stating that it is based on the guiding principles of prevention, deterrence, national coordination and international cooperation.

To ensure no stone is left unturned, the Committee is divided into two groups. The first is made up of institutions such as the National Council, the Secretary of State for Justice, the Directorate of Judicial Services, the Government Advisor-Ministers of Finance and the Economy, the Interior, Foreign Affairs and Cooperation, the Attorney General, the Director of the Information and Control Service on Financial Circuits, the Comptroller General of Public Security, the Director of Budget and Treasury, Economic Expansion, Tax Services , the Secretary General of the Financial Activities Control Commission, the Head of the Gaming Control Department, and the French Customs Office in Monaco.

The second is comprised of representatives from professions subject to anti-money laundering laws. These include the Order of Chartered Accountants and Chartered Accountants of Monaco, the Order of Lawyers-Defenders and Lawyers, the Monegasque Association of Financial Activities, the Monegasque Association of Compliance Officers of Monaco, the Monegasque Real Estate Chamber, the Monegasque Association of Professionals in the Administration of Foreign Structures, the Federation of Monegasque Companies, the Union of Traders and Artisans of Monaco and the Monegasque Chamber of Watchmaking and of Jewellery.

The Secretariat of the Committee comes from SICCFIN, whose Director, Michel Hunault, is in charge of monitoring the strategy.

According to the government, the Committee is a place for “exchanges, dialogue and consultation oriented towards a common objective of implementing the national strategy for the period 2022-2024”, adding that “the national strategy is a priority in accordance with the guidelines set by HSH the Sovereign Prince.”

SEE ALSO:

Monaco strengthens legislative arsenal against financial crime

 

Photo by Stephane Danna, Government Communication Department

 

 

Monaco tame a timid Lyon

by: Luke Entwistle
06/02/2022
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Monaco’s first-half siege on the Lyon goal secured a dominant 2-0 victory on Saturday, the team reaching the top four in Ligue 1 on a memorable night at the Stade Louis II.

An exemption allowed up to 8,000 fans into the Stade Louis II and those in attendance didn’t waste any time making themselves heard or in fact seen. The arrival of the players was greeted with the unfurling of a huge tifosi and a pyrotechnic display amongst a carnival atmosphere.

Supporters didn’t even have time to settle into their seats before Monaco hit the front, a resurgent Jean Lucas latching onto a Wissam Ben Yedder cross to nod in against his former employers.

A Lyon side lacking in any attacking creativity in the first-half had to endure an onslaught on their goal, keeping the deficit to a minimum. Gelson Martins, Kevin Volland and Jean Lucas all had glorious chances to double the score. As Philippe Clement stated post-match, the score-line could have looked more emphatic at the break. “We could have led by 3 or 4-0 at the break,” he said.

If more chances had fallen to the prolific Ben Yedder, that could well have been the case. However, the Frenchman would get his chance mid-way through the first-half, and he made no mistake. Playing on the last-man of Lyon’s incomprehensibly high-line, he latched onto a well-weighted Sofiane Diop pass and slotted past the keeper into the far corner, via a nick off the post.

Lyon didn’t live up to their billing in the opening period, the line-up looked strong on paper, but left a lot to be desired in reality. It was therefore no surprise that Peter Bosz rang the changes at the break, bringing on new signings Tanguy N’dombele, Mathis Cherki and former Monaco man Romain Faivre.

The changes failed to inspire. Clement’s men provided a masterclass in game-management, their aggressive defending and solid structure restricting Lyon to half-chances and shots from range. Time drifted in the second-half as the game lulled, the lack of on-pitch excitement didn’t quieten the Ultras behind the goal however, who remained in good voice until the end, growing in confidence as their side neared a vital victory.

The full-time whistle was merciful for Lyon, putting them out of their misery, and confirming what had already been long-since established. Monaco, meanwhile, revelled in their surprisingly comfortable win against their rivals for the Champions League places, taking the opportunity to celebrate with the fans.

 

Clement refused to get carried away with the occasion post-match, stating, “I am happy with the progression of my team, even if it wasn’t a perfect match. It is an important victory.” The Belgian coach told Monaco Life that he was impressed with his side’s aggression: “It was a positive aggression. It is the basis of football, being aggressive and winning duels. If you don’t win duels, you don’t win matches.”

Monaco will need to take that aggression and drive into their next fixture against a Ligue 2 side in Amiens, who will be up for the fight as they visit the Stade Louis II on Tuesday for a Coupe de France quarter-final clash.

Click on the Instagram video below…

https://www.instagram.com/tv/CZojHQkjT1t/?utm_medium=copy_link

Photo source: AS Monaco