14 ° C
Profile

Day: 11 August 2023

New pact to strengthen sharing of information between Monaco’s Attorney General, police, and financial regulator

by: Cassandra Tanti
11/08/2023

Monaco has met another key international standard in the fight against money laundering, this time with an agreement that will unite the Attorney General, the Director of Public Security and SICCFIN.

The Prince’s Government announced on Friday 11th August that a tripartite agreement on cooperation, coordination and exchange of information in the fields of money laundering, the financing of terrorism and the financing of the proliferation of weapons of mass destruction has been entered into by Monaco’s Attorney General – the main legal advisor to the government, the Director of Public Security, and SICCFIN (Service d’Information et de Contrôle sur les Circuits Financiers).

The agreement responds to the FATF (Financial Action Task Force) Recommendation No. 2 adopted in 2013, which  states that countries should have national policies which ensure that policy-makers, the financial intelligence unit (FIU), law enforcement authorities, supervisors and other relevant competent authorities have effective mechanisms in place which enable them to cooperate and exchange information with each other concerning the development and implementation of policies and activities to combat money laundering, terrorist financing and the financing of proliferation of weapons of mass destruction.

According to the government, “The agreement, by evoking the rights and obligations of the three signatory authorities, defines in a very practical and concrete way the relationships that they must maintain between them in order to promote and strengthen the exchange of information.”

The government says the move will consecrate current good practices between the authorities, particularly in the urgent processing of certain communications andrequests and by setting deadlines for response, as well as helping to identify trends and patterns of money laundering in the Principality.

“This shared analysis will therefore allow a better apprehension of the risk and optimise the criminal response provided by the authorities investigation and prosecution,” concluded the government.

 

Make sure you’re never left out of the conversation. Sign up for the Monaco Life newsletter, and follow us on Facebook,  Twitter,  Instagram and LinkedIn.  

Photo credit: Stéphane Danna, Government Communication Department

 

RELATED STORY:

Moneyval: Latest meeting of financial crimes committee sees adoption of several key measures

 

“Drink, dance and donate”: The Sheba Medical Centre Gala raises €550,000 for charity

by: Stephanie Horsman
11/08/2023

The Sheba Medical Centre Gala at the Hotel Hermitage was a massive success, with the facility raising more than half a million euros for the Middle East’s largest hospital treating sick children and refugees.

Known locally as the Hospital of Peace, the Sheba Medical Centre in Ramat Gan, Israel, is known for its colour, religion and nationality-blind approach to care in a region where these things are touchy, and often dangerous, topics.

The facility, which also offers care to many of the region’s sick children free of charge, relies on donations to be able to keep the wheels turning.

GALA EVENT

To facilitate the continued efforts, Dr Arnon Afek, Deputy Director General of the Sheba Medical Centre, along with Dorit and Marc Assaraf and Dr Yana and Dr Karl Hauptmann, co-sponsors of the evening, hosted 160 guests including celebrities, people from the worlds of art and society, as well as international business leaders to a gala event at the Hôtel Hermitage on 3rd August.

Dany Michalski, Anna Maria Kaufmann, Kriemhild Siegel, Ulrich Graf and Katrin Countess Goëss-Enzenberg, Stefan Dimitri Prince Strudza, and Helen Countess Selikowitz Modini were amongst the guests who helped make the evening a hit, with donations topping out at €550,000.

PROCEEDS FOR KIDS

The proceeds will go to much needed medical equipment and to the Edmond and Lily Safra Children’s Hospital wing of the Sheba Medical Centre.

“We would like to thank all guests for their generous support,” said Dr Afek at the event. “The Sheba Medical Centre was again voted one of the 10 best hospitals. On the one hand, our ‘City of Health Hospital’ stands for innovation and transformation. But it is also always the hospital of peace and help.”

 

Make sure you’re never left out of the conversation. Sign up for the Monaco Life newsletter, and follow us on Facebook,  Twitter,  Instagram and LinkedIn. 

 

Photo supplied