SMALL EUROPEAN STATES – MONACO MONEY LAUNDERING
March 1st, 2004
BY KEITH NUTHALLMONACO is all about money. A glamorous speck of high-rises looming above the French Riviera, it is famous for wealthy glamour, tax exiles, racing-cars and gambling. Given this cocktail, it is hardly surprising that this, Europe's second smallest country by geography, has attracted allegations that it has been the site of money laundering. The latest US International Narcotics Control Strategy Report summarises an unsurprising assessment: "Monaco is considered vulnerable to money laundering, because of its strict bank secrecy laws, network of ...
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