In the wake of the recent report critical of Monaco’s progress in the fight against money-laundering, the Coordination and Monitoring Committee, established by Sovereign Ordinance No. 9.729 of February 1, 2023, will meet on February 16, next Thursday.
Its agenda will include the following items: 1. The adoption of the detailed 2023 work plan of the Committee; 2. The information campaign program for the private sector; 3. The update of the National Strategy 2022-2024, and the revision of the National Action Plan that accompanies it.
The setting-up of this Committee follows the recommendations of the Council of Europe’s Moneyval body requesting the Monegasque authorities to ensure that the Committee “is an effective platform for cooperation for all competent authorities and is provided with the means necessary to carry out its mission effectively.”
The Government notes, as the evaluators recognised, that a Coordination Committee introduced by OS No. 8.964 of December 6, 2021 already exists, but it is necessary to strengthen its attributions and to give it a central role in determining the orientations and actions to be undertake in the areas within its competence, with a view to further strengthening Monegasque systems for combating financial crime.
The Coordination and Monitoring Committee is chaired by H.E. the Minister of State, Mr. Pierre Dartout. Operational management and implementation of the recommendations of the Committee’s report Moneyval are provided by Mr. Jean Castelli, Minister of Finance and Economy.
FILE PHOTO: Finance Miniister Jean Castellini