Monaco’s elected body has reacted strongly to being left off the committee leading the fight against money laundering, whose new composition was announced by the Government in the Official Journal of Monaco on February 1.

The Council complains of not being consulted and said that it has been working energetically on the topic of money-laundering over the last five years, particularly in 2022 by voting on texts transmitted to it, albeit that the texts have been delivered with “intolerable” delays.

The National Council complains that five texts were voted on in a hurry on November 30 in order to comply with the Government’s timetable.

In a strongly-worded riposte, the Council said: “The National Council once again reminds the Government that it is an institutional partner in its own right. The Assembly intends to be respected within the framework of its constitutional prerogatives, as a legislative institution, part of the Monegasque State, under the authority of the Sovereign Prince.”

A reaction is expected from the Government.

Moneyval, representing the Council of Europe, last month issued a damning report that was highly critical of the progress made in Monaco on implementing appropriate controls on money-laundering risks.

PHOTO: Brigitte Boccone-Pages, President of the National Council shortly after her election to the top post last year