The Council of Europe’s Group of States Against Corruption published a Second Compliance Report on efforts by the Government of Monaco to implement anti-corruption measures.
The Council of Europe Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism published a mutual evaluation report on the anti-money laundering and counterterrorist financing regime of Monaco, urging fundamental improvements in some areas.
Monaco Requires ‘Fundamental Improvements’ Against Illicit Finance, FATF Warns
In March 2022, Monaco drew praise after formally advising the private sector on how to handle the risk of illicit finance associated with luxury yachts. A year later, the small, wealthy enclave nestled in the middle of the French Riviera has been cast in a different light.
Midweek Roundup: Facebook Abandons Cryptocurrency, Bulgaria Blocks Russian Embassy Payment, and More
South Africa on precipice of global gray list, FATF president lists priorities, and more, in the midweek roundup.
Monaco Targets Key AML Vulnerability: Luxury Yachts
0 Items Found
Technical | Effectiveness |
---|---|
Compliant : 4 | High : 0 |
Largely Compliant : 20 | Substantial : 0 |
Partially Compliant : 16 | Moderate : 8 |
Non-Compliant : 0 | Low : 3 |
Rank : N/A |
Score : N/A |
Rank : N/A |
Score : N/A |
Rank : 109/133 |
Score : 70/100 |