Monaco’s Department of Budget and Treasury, in collaboration with the Department of Digital Services, has launched a new website showing the entities whose assets have been frozen as a result of sanctions.
All decisions to freeze funds and economic resources taken by the Minister of State, pursuant to Sovereign Ordinance No. 8.664 of May 26, 2021, will now be published on this dedicated site, which has a particular relevance in the context of Russian hostilities against Ukraine.
The digital platform lists all natural and legal persons, entities or bodies subject to a procedure for freezing funds and economic resources in the Principality, pursuant to international economic sanctions, the Government said. This national list is kept up to date by the Budget and Treasury Department each time entries are added, deleted or modified.
It is interesting to note that this site now allows open access to the list, which is extensive and has important implications for financial institutions.
The functionalities offered meet the recommendations in the external evaluation of the Monegasque system for the fight against money laundering and the financing of terrorism (MONEYVAL) and attest to the commitment of the Principality of Monaco to maintain itself at the highest level of international standards, the Government said.
The site in English: https://geldefonds.gouv.mc/en
FILE PHOTO: A reflection of a yearly chart of U.S. dollars and Russian roubles are seen on rouble notes in this photo illustration taken in Warsaw November 7, 2014. REUTERS/Kacper Pempel
ORIGINAL SOURCE: Monaco Government Press Service