On 23 January, EurActiv reported that a mutual evaluation report from MONEYVAL highlights key vulnerabilities in Monaco’s measures against money laundering and the country risks being placed under intense scrutiny by FATF. The report is said to say that it faces significant money laundering risks, mostly due to the “internationally oriented financial activities” that are being offered – and that the Principality is a “prime target” for illicit cross-border financial flows, and that, in most cases, frauds are committed abroad, while the proceeds of the crime are laundered in Monaco.
https://rm.coe.int/moneyval-2022-19-eng/1680a9d7d0
MONACO REACTS SWIFTLY TO MONEYLAUNDERING COMPLIANCE REPORT
https://news.mc/2023/01/23/monaco-reacts-swiftly-to-money-laundering-compliance-report/
https://www.buymeacoffee.com/KoIvM842y
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