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

Monaco’s heavyweights have once again convened for a meeting to approve a number of strategies in the Principality’s fight against financial crimes and to meet Moneyval recommendations. Here are the key outcomes.

The latest meeting of the Committee for the Coordination and Monitoring of the National Strategy to Combat Money Laundering, the Financing of Terrorism and the Proliferation of Weapons of Mass Destruction and Corruption was held on 27th July.

Chaired by Monaco’s Minister of State Pierre Dartout, the aim of the meeting was a “complete overview” of the situation, according to a government statement on 31st July.

In particular, the committee examined the “progress of the national action plan for each strategic objective, the progress of the implementation of the recommendations of the Moneyval Committee, the digital asset risk assessment project, and the manual on international criminal assistance”.

During this session, the committee also adopted an action plan of the Department of Tax Services, the action plan of the Council of the Order of Lawyers and Advocates-Defenders, the assessment of the risks related to the financing of terrorism, as well as the Memorandum of understanding adopted by the General Prosecutor’s Office/Public Security Department/SICCFIN contact group.

“The Principality of Monaco reaffirms its total involvement in the fight against money laundering, the financing of terrorism and the proliferation of weapons of mass destruction and corruption,” concluded the Prince’s government in its statement.


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