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In brief

Money laundering prevention: Didier Guillaume chairs first Committee meeting

By Théo Briand
Published on 23 September 2024
1 minute read
Anti money laundering committee
The Committee unanimously adopted the terms of reference of the Permanent Secretariat © Communication department
By Théo Briand
- 23 September 2024
1 minute read

The Minister of State called for the engagement of all parties to  reach the defined targets within the 18-month timeframe.

On Friday, Minister of State Didier Guillaume chaired his first meeting of the Coordination and Monitoring Committee on the national strategy to combat money laundering, corruption, terrorism funding, and the proliferation of weapons of mass destruction.

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Samuel Vuelta Simon, Secretary of State, Director of Judicial Services, Lionel Beffre, Advisor to the Minister for the Interior, and Éric Arella, Comptroller in charge of the Police Department Directorate, attended the Special Committee for the first time.

A national priority

In his opening remarks, Didier Guillaume expressed his gratitude to the participants for the progress made since “the adoption of the mutual evaluation report by the Moneyval Committee in December 2022.” The progress includes the development and implementation of a comprehensive national strategy, improved cooperation at both national and international level, the creation of new authorities (The Autorité Monégasque de Sécurité Financière (AMSF – Monegasque Financial Security Authority) and a Department for the Management of Seized or Confiscated Assets), as well as an increase in the number of investigations into money laundering cases.

Keen to “protect the integrity of Monaco’s economic and financial system,”  during the meeting the Committee adopted the terms of reference of the Permanent Secretariat, a new body responsible for coordinating the implementation of the national strategy “ensuring cross-disciplinary discussions and action monitoring.” 

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Attractiveness, transport, housing: Didier Guillaume and the Government’s key priorities for Monaco

The Minister of State also reiterated the stipulations of the FATF Action Plan, stressing the importance of achieving the set targets within 18 months. Didier Guillaume emphasised the need for all parties to keep up their efforts and engagement.