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Activity report 2007
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This report covers 2007.
Anti-money laundering and combating the financing of terrorism (AML/CFT) was highlighted by the Council of Europe Moneyval Committee’s adoption of the third round mutual evaluation report on the Principality of Monaco, which was prepared following IMF and FATF methodology.
This document follows the on-site visit of financial and legal experts in the Principality in 2006. It states among others that “the Principality has a satisfactory legal framework to combat money laundering and terrorist financing.” […] Overall, the Monegasque FIU is effective and the driving force behind the AML/CFT national efforts. Monaco has designated competent authorities to investigate and prosecute money laundering and terrorist financing offences […]. Measures for domestic and international co-operation are generally comprehensive as well. »
Various recommendations put forward further to this evaluation will help the Principality devise an even more suitable legal and regulatory framework for the current requirements underlying the fight against money laundering and terrorist financing.
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