Monaco; Report on the Observance of Standards and Codes: FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism

This report provides a summary of the Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) measures in place in the Principality of Monaco. The Principality has a satisfactory legal framework to combat money laundering and terrorist financing though, in general, the legal provisions are not detailed or otherwise supplemented by detailed secondary legislation and instructions. The 2003 money laundering offenceâ€™s restrictive terms hindered prosecutions, and thus the results in terms of convictions for money laundering remained disappointing.

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Year of publication:	2008-07-09
Institutions:	International Monetary Fund (IMF) ; International Monetary Fund
Subject:	Bank supervision \| Combating the financing of terrorism \| Financial sector \| Reports on the Observance of Standards and Codes \| money laundering \| terrorist financing \| terrorist \| administrative sanctions \| law enforcement \| suspicious transaction \| terrorism \| competent authorities \| financing of terrorism \| due diligence \| predicate offences \| criminal activity \| criminal liability \| beneficial owners \| business relationships \| suspicious transactions \| customer identification \| judicial authorities \| terrorist financing purposes \| suspicious transaction reports \| transaction reporting \| legal assistance \| wire transfer \| transaction reports \| supervisory authorities \| suspicious transaction reporting \| shell banks \| beneficial ownership \| banking relationships \| transaction records \| due diligence requirements \| drug trafficking \| terrorist assets \| law enforcement authorities \| record keeping requirements \| terrorist acts \| suspicious transaction report \| legal arrangements \| enforcement authorities \| terrorist organisations \| negotiable instruments \| precious stones \| foreign branches \| financial intelligence unit \| factual circumstances \| terrorists \| precious metals \| financial transactions \| internal controls \| predicate offence \| investigative measures \| financial investigations \| control information \| criminal investigation \| criminal activities \| dual criminality \| criminal sanctions \| anonymous accounts \| criminal offence \| confiscated assets \| internal control procedures \| money laundering measures \| money laundering offence \| unusual transactions \| insurance intermediaries \| cross border movements \| terrorist organizations \| internal procedures \| secrecy laws \| legal obligations \| international cooperation \| underlying predicate offences \| international standards \| ensuring compliance \| criminal matters \| reporting requirements \| money laundering cases \| extradition requests \| banking rules \| material change \| financial crime \| suspicious activity \| professional secrecy \| law enforcement activities \| evidence gathering \| conducting investigations \| good faith \| supervisory bodies \| customer identification information \| cash transactions \| transaction reporting requirements \| customer transactions \| combating money laundering \| suspicious activity reports \| criminal law \| account files \| non financial businesses \| money laundering techniques \| supervisory body \| terrorist organization \| laundering activities \| identification data \| combat money laundering \| investigative techniques \| combating money \| united nations security \| value transfer \| international conventions \| criminal groups \| prudential supervision \| foreign authorities \| confiscation of property \| reporting forms \| supervisory authority \| legal entity

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Extent:	application/pdf
Series:	IMF Staff Country Reports.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series IMF Staff Country Reports Number 08/224 3 pages long
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10011243520