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Day: 28 February 2025

Monaco appoints new financial security chief as it works to exit FATF ‘grey list’

by: Cassandra Tanti
28/02/2025

Monaco has appointed Bruno Dalles as the new head of its Financial Security Authority (AMSF), the agency responsible for tackling money laundering, terrorist financing, and corruption. The appointment comes as Monaco prepares to send its first progress report to the Financial Action Task Force (FATF), outlining steps taken to address concerns that led to its inclusion on the organisation’s “grey list” last year.

Bruno Dalles, currently Attorney General at the Court of Appeal in Nouméa, will take up his new position on 3 March. He replaces Sophie Thévenoux, who had led the agency since 29th January.

A former head of TRACFIN, France’s financial intelligence unit, Dalles has a background in investigating financial crime and public finance management. His experience is expected to play a key role as Monaco works to improve oversight of its financial system.

AMSF was created to replace SICCFIN, the previous financial intelligence unit, as part of Monaco’s response to FATF recommendations calling for stronger, more independent regulation.

Photo source: Government Communication Department

Government reviews anti-money laundering strategy

Dalles’ appointment was announced as Monaco’s Coordination and Monitoring Committee for its national anti-money laundering strategy met on 27th February.

The meeting, chaired by Minister of Foreign Affairs and Cooperation Isabelle Berro-Amadeï, reviewed the country’s progress since being placed on FATF’s grey list. Officials also finalised Monaco’s upcoming progress report, which will be submitted to FATF’s International Cooperation Review Group (ICRG) for assessment.

Berro-Amadeï thanked government agencies and financial institutions for their efforts but stressed the need for continued cooperation to meet international standards.

Monaco’s position on FATF grey list

Monaco was added to FATF’s grey list in June 2024 due to concerns over its ability to prevent money laundering, particularly in cases linked to tax fraud abroad. While FATF acknowledged improvements in financial controls, it said further action was needed to ensure effective enforcement.

Since then, Monaco has restructured its financial oversight agencies, introduced new legislation, and increased regulatory scrutiny. Officials hope these efforts will allow the country to be removed from the grey list by 2026.

Monaco Life is produced by real multi-media journalists writing original content. See more in our free newsletter, follow our Podcasts on Spotify, and check us out on Threads,  Facebook,  Instagram,  LinkedIn and TikTok.

The Grand Bal Viennois: A nostalgic journey to Vienna’s golden era

by: Kyriaki Topalidou
28/02/2025

The Grand Bal Viennois will transport guests back to the Austrian-Hungarian Empire era when they enter Nice’s Hotel Negresco on 8th March. For one evening, the Salon Royal will become a time capsule where the modern world fades away and the elegance of imperial Vienna takes centre stage. 

With their period attire and dancing shoes at the ready, the guests of The Grand Bal Viennois are set to embark on a unique journey where emperors and empresses still lead the way. 

Marie-Theres Michel, who grew up in Vienna, created the event, and told Monaco Life that nostalgia for this period remains deeply embedded in Austrian culture. “Many people tease me by saying ‘why do you always talk about former times?’, and without hesitating I say ‘well, it’s the time of Franz-Joseph!’,” she said. “Maybe it is a little crazy and old fashioned, but for a lot of Austrians, this time is still very present in our minds. Austrians are very nostalgic, and with the Viennese balls, we keep this nostalgia alive.”

Inside the Grand Bal Viennois

The evening begins at 7pm when the doors of the Salon Royal open to welcome guests with champagne and cocktails, setting an elegant tone for the night ahead.

While traditional Viennese balls typically start at 10pm without dinner, Marie-Theres decided to further enhance the experience for her guests. Forty-five minutes after the welcome reception, Michelin-starred chef Virginie Basselot, who has been creating prestigious cuisine at Negresco since 2018, will serve a Mediterranean-inspired dinner.

Following the meal, the night will continue based on Viennese tradition – the classical opening ceremony organised by the Viennese Dancing School. Sixteen debutant couples will perform accompanied by ‘The Hohner’’, a musical ensemble flying in from Vienna specifically for this event. Known for their performances at traditional Viennese balls, they will play authentic Viennese waltzes and traditional melodies. Once the opening ceremony wraps up, the representative of the City of Vienna will give a speech and then officially open the ball ‘’Alles Walzer’’.

When the clock strakes 12, it’s time for the ball’s highlight; the famous ‘Quadrille’. “It is the most fun part, as even Austrians who have danced it numerous times keep forgetting parts of it’’, Marie-Theres explained. “It’s a kind of line dancing where all guests are invited to participate. As just a few people know what to do, the director of the dancing school guides everyone through the steps. Even though it becomes somewhat chaotic, it’s a perfect moment for everybody to dance together. The origins of the Quadrille date back to the 19th century, which was the great period of balls.” This dance, in combination with the historical ball room that the Negresco encompasses, will make for a truly magical atmosphere, contributing to the time-travel experience. 

In our increasingly globalised world, says Marie-Theres, “it is important to refine and redefine the values and origins of our European culture. The idea is to transmit a certain savoir-vivre – historic and classic traditions and values to the guests attending the Grand Viennese Ball.’’

Even though this is the first year Marie-Therres is hosting the ball, she hopes to make it an annual tradition for the French Riviera, with the second edition already planned for 7th March 2026.

Useful information

Tickets for the ball are priced at 360€, or 110€ for a strolling ticket.

A tip for the ladies arriving at the ball: before heading towards the Salon Royal, don’t forget to pick up a ‘Damenspende’, a small gift offered to participating ladies by the ball’s organisers and a sign of appreciation and courtesy. This is an elegant and refined tradition of Viennese balls, much more than a simple gesture: it’s a symbol of Austrian gallantry and art de vivre.

VIP services are also available, including special rates for stays at Hotel Negresco, private tours of the Cote d’Azur, dance lessons before the ball, private chauffeurs and recommendations for purchasing formal attire.

Approximately 150 guests are expected, and while the event is nearly sold out, final reservations can be made on the Grand Bal Viennois official website: https://www.billetweb.fr/grand-bal-viennois

Monaco Life is produced by real multi-media journalists writing original content. See more in our free newsletter, follow our Podcasts on Spotify, and check us out on Threads,  Facebook,  Instagram,  LinkedIn and Tik Tok.