This assessment process was implemented to combat money laundering and terrorist financing.
It is in Strasbourg that a Monegasque delegation has just visited, in the framework of the MONEYVAL assessment of the system to combat money laundering and the financing of terrorism (LCB-FT) of the Principality of Monaco.
A delegation composed in particular of Michel Hunault, who is the leader, and of Sylvie Petit-Leclair, Secretary of State for Justice and Directorate of Judicial Services.
Also participating was Jean Castellini, Councilor of the Government-Minister, who was on video-conference from Monaco. He recalled all the actions carried out by the Principality to comply with the requirements of the FATF (Financial Action Task Force), as well as the mobilization of all the services of the Monegasque Administration.
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During this week, the Monaco delegation should further clarify to the evaluation team the high level of respect and effectiveness of the systems implemented in Monaco. Michel Hunault also recalled the needs of the Prince and the Prince’s Government in terms of setting an example, to prevent and fight financial crime.
Last January, the National Council had also adopted two bills that aim to strengthen the LCB-FT and propose appropriate criminal sanctions.