Australia’s anti-money laundering and counter-terrorism agency, Australian Transaction Reports and Analysis Centre (AUSTRAC), has named Monaco as one of the destinations for money transfers that have grown very substantially in volume in recent years. The other two are also both in Europe: Luxembourg and Estonia. AUSTRAC said that transfers to Monaco had grown at the fastest pace, although from a small amount in 2010, when just 3,347 Australian dollars were sent from Australia to the Principality. The figure had jumped to AUD $1.6 million in 2016, still a very small … Continue reading Monaco a “magnet” for Australian funds