At a pivotal meeting on Friday, September 20, Monaco's Minister of State, Didier Guillaume, chaired the initial session of the Coordination and Monitoring Committee tasked with advancing Monaco's national strategy against money laundering, terrorist financing, arms proliferation, and corruption. The session was notable for the inclusion of new members Samuel Vuelta Simon, Lionel Beffre, and Eric Arella. Minister Guillaume acknowledged the substantial progress achieved since the December 2022 MONEYVAL evaluation, highlighting swift legislative reforms, the establishment of key authorities like the Monaco Financial Supervisory Authority (AMSF), and enhanced investigative efforts in money laundering that align with the principality's financial risk profile and transparency goals.
During the committee meeting, there was unanimous support for the operational framework of the newly established Permanent Secretariat. This interministerial body will play a crucial role in administrating and implementing Monaco’s national strategy, ensuring cohesive action across various sectors and monitoring ongoing developments. The establishment of this secretariat marks a significant step in strengthening the principality's infrastructure to combat financial crimes.
Minister Guillaume also reiterated the urgency of complying with the Financial Action Task Force (FATF) Action Plan, with a strict 18-month deadline to fulfill the stipulated objectives. He emphasized the necessity for sustained commitment and effort from all governmental bodies involved, underlining Monaco’s continued dedication to uphold the economic and financial integrity of the principality, a priority consistently supported by HSH Prince Albert since 2005.
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