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Monaco demonstrates continued commitment to fight against money laundering

Monaco demonstrates continued commitment to fight against money laundering

By Staff Writer - May 21, 2018

Monaco has continued its close cooperation with the MONEYVAL anti-money laundering organisation by participating in a week-long training session for evaluators in Larnaca, Cyprus.

The seminar brought together nearly sixty participants from many countries, including Estonia, Poland, Cyprus, Andorra, Guernsey, France, United Kingdom, Liechtenstein, Israel, Jersey, Georgia, Italy, the Netherlands, but also from the European Commission.

MONEYVAL, the Committee for the Fight against Money Laundering and Terrorist Financing (LCB-FT), held the event to train experts to evaluate the policies implemented and the actions carried out by the different countries belonging to the MONEYVAL Committee.

During the seminar, representatives from Financial Intelligence Units such as Monaco’s SICCFIN, but also from Police and Prosecution Services (General Prosecutor’s Office), learned how to evaluate existing anti-money laundering and  financing of terrorism policies already in place.

The seminar was attended by Jean-Marc Gualandi, Technical Advisor to SICCFIN. The sessions was also attended by Lia Umans, FATF, Michael Stellini, Deputy Executive Secretary of MONEYVAL Committee, Yehuda Shaffer, former Deputy Attorney General of Israel John Ringguth, an eminent British jurist, former member of the London Crown Prosecution Service and former Executive Secretary of the Moneyval Committee, and Richard Walker, Director of Financial Crime Policy, Guernsey.

By taking part, SICCFIN, Monaco’s own financial control organisation, demonstrated the Principality’s commitment to the fight against money laundering and the financing of terrorism.

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