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Day: 1 March 2023

Local tech heavyweight acquires major share in Superyacht Technology Network

by: Stephanie Horsman
01/03/2023

Will Faimatea, founder of Monaco-based Bond International, has acquired 42% of leading tech event company Superyacht Technology Network.

Australian-born Faimatea is the founder and director of Bond International and co-founder of several other tech based companies including bringing the environmental Pathogen detection service Poppy to Monaco, as well as being a major contributor to Yacht Crew Help and Life After Yachting. He has scooped up a 42% share of the company, and will act in an advisory position rather than taking on a formal executive role.

SYT is looking to expand its operations, including the popular Superyacht Technology Show, and Faimatea’s 30-year track record will be instrumental. The 2024 Show is set to be four times the size of last year’s event, due to increased industry demand, and will include a 500-delegate capacity, featuring talks and conferences from leaders in both tech and super yachting sectors.

“I’m proud that an industry giant such as Will Faimatea recognises the potential of the next phase of SYT Network and he is the perfect collaborator,” said Director of SYT Network Jack Robinson. “This investment will allow us to more quickly achieve our goal to bring innovators and buyers together in the superyacht marketplace.”

The injection of funds will help boost operational teams that will be in charge of anticipated sales from new exhibitors from the worlds of engineering and green technology.

“I am excited to be personally involved with the Superyacht Technology Network which Jack has founded,” said Will Faimatea. “The platform represents and allows all those companies and owners, representatives and crew with technology focus a place to visit and experience the technologies and the people behind them.”

SYT Network was founded in 2022 by Jack Robinson after an 18-year superyacht industry career, where he was primarily involved in media and technology. His vision was to create a platform for superyacht businesses in IT and AV to grow through networking events. The company’s membership stands at 18,000 individuals and companies.

“Will’s vision for the future of superyacht technology mirrors my own and we both acknowledge the industry’s desire for a dedicated, stand-alone, technology show,” said Robinson. “We are committed to delivering such a focused show with the expanded Superyacht Technology Show planned for Barcelona in March 2024.”

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Monaco joins first international forum on identification and recovery of criminal assets

by: Cassandra Tanti
01/03/2023

Monaco continues to implement the recommendations of the Moneyval committee, this time taking part in an international forum in Rome on how to identify and recover criminal assets.

It was in Rome on 27th and 28th February that the Financial Action Task Force (FATF) and the Guardia di Finanza organised the first international forum on the identification and recovery of criminal assets, with the support of the OECD.

The international conference brought together more than 300 experts from government agencies and services from around a hundred countries, whose commitment to the fight against organised transnational financial crime was hailed by the President of FATF, T. Raja Kumar.

The Monegasque delegation was made up of representatives of Siccfin, the Directorate of Judicial Services and the Directorate of Public Security, with a view to improving cooperation with the relevant foreign authorities in the fight against money laundering and terrorist financing and to promote the exchange of best practices in this field.

This participation is also part of Monaco’s implementation of the recommendations of the mutual evaluation report by the Moneyval committee on the Principality of Monaco.

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SEE ALSO: 

Monaco to “step up” financial crime action after damning Moneyval report

 

Photo of members of the Monegasque delegation (from left to right): Captain Fabien STELLA, Head of the Financial Investigations Section of the Department of Public Security; Richard DUBANT, Advisor to the Secretary of State for Justice; Regis BASTIDE, Deputy Director of the Department of Public Security; Geoffey VASSEUR, Section Head, financial analyst, representing SICCFIN; Captain Pierre-Grégoire CUIF, Deputy Head of the Financial Investigations Section of the Department of Public Security. Source: Monaco Government