Meeting with Mr Michel Hunault, Director of the Service d’Information et de Contrôle sur les Circuits Financiers (SICCFIN)

2019 10 meeting michel hunault

On October 2nd, Mr Hunault met the actors of the Monegasque Finance at a luncheon organized by AMAF (Monegasque Association of Financial Activities).

Mr. Hunault recalled the roadmap transmitted by the Minister of State: to animate SICCFIN, lead the team, with three requirements.

The first concerns the next assessment of the Principality by Moneyval. "It will take place in two years, we will try to do better than in 2018". The second concerns the effectiveness of the instruments deployed by SICCFIN. "Over the past three years, we have conducted the national risk assessment. France has just published its September 2019 edition whose quality is based on cooperation with all taxable persons (banking system, figure and law professions, real estate ...). The French publication should give us a roadmap for the coming months."

Finally, we have to make the Service independent:
"The Principality is part of the Council of Europe, the Moneyval Group, the Egmont Group and is represented on the Financial Action Task Force. In Egmont's objectives, the independence of intelligence cells provides the guarantee of effective evaluation and sanctioning services. Approach shared by many countries of the Egmont Group, deserving to be realized. "

The new director of SICCFIN wants the evaluation mission carried out by his team to be executed in a climate of shared trust. "The obligation to report suspicions must be in the confidentiality and security of our relations. Trust must be reciprocal. "

He concludes on his mission: "I am animated by a great humility and a sense of responsibility. I wish to participate in the image of the Principality. Monaco has many assets, it is an attractive financial place, you have a tool that needs to be strengthened.