MONACO FACES COMPREHENSIVE AML REFORM REQUEST LIST FROM MONEYVAL
February 22nd, 2023
Popular culture has long considered Monaco the perfect ‘sunny place for shady people’, as per the Lawrence Rothman song, and judging by the latest Moneyval assessment of this Mediterranean principality, this characterisation holds some truth regarding AML/CFT.
The European FATF-style body said in a report issued in January (2023) that Monaco’s AML/CFT effectiveness was low on supervision, investigation and prosecution. And it was moderate on risk assessment, policy development, international cooperation, preventative measures, legal person ...
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