News

The Certification relating to the fight against money laundering (AML), terrorist financing (TF) and corruption (C) was instituted in the Principality, at the initiative of the AMAF, by Sovereign Order 9223 of 28 April 2022.

Its purpose is to ensure that the teams in charge of these issues in all the banking institutions and management companies in the financial centre are fully aware of the relevant legislation and best practice.

2023 01 24 Moneyval

The Association Monégasque des Activités Financières has taken note of the "Fifth MONACO Mutual Evaluation Report" which has just been published by MONEYVAL.

The AMAF notes, in particular, that even if improvements are necessary, the Report recognises that "Financial Institutions (FIs) are aware of the main money laundering risks mentioned in the ENR2", and that "all FIs put in place identification and identity verification measures at the time of entry into the relationship and exercise constant vigilance over the business relationship throughout". This is the meaning of its commitment alongside the Government and the National Council to develop the corresponding legislation, Regulation is a major factor in the attractiveness of the financial centre.

As regards the general system, it has no doubt that the Monegasque authorities are determined to take the necessary measures to respond to the recommendations made by MONEYVAL.

For the President of the AMAF, Etienne Franzi: "the AMAF will not fail, for its part, to contribute once again, as necessary, to the work that will be carried out to this end. It notes that significant progress has already been made, most recently with the adoption of five new laws on 30 November.

 

2022 09 14 delegation monegasque

As part of the MONEYVAL evaluation process of the Principality of Monaco's anti-money laundering and combating the financing of terrorism (AML/CFT) system, a delegation was present in Strasbourg with Mr. Michel Hunault, head of the delegation and Mrs. Sylvie Petit-Leclair, Secretary of State for Justice, Director of Judicial Services. Mr. Jean Castellini, Councillor-Minister, opened the working meeting, by videoconference from Monaco, by recalling all the actions carried out by the Principality to comply with the FATF requirements, and more particularly the mobilization of all the services of the Monegasque Administration. This "face to face" week should allow the Monegasque delegation to further clarify to the evaluation team the high level of compliance and efficiency of the systems implemented in Monaco. Michel Hunault recalled the requirements of H.S.H. Prince Albert II and his government in terms of exemplarity to prevent and fight financial crime and implement the AML/CFT in the Principality.

 

2022 07 24 sicfin

The Service d'Information et de Contrôle des Circuits Financiers (SICCFIN), the Financial Intelligence Unit (FIU) of the Principality of Monaco, took part, from July 10th to 14th, in the 28th plenary meeting of the EGMONT Group which took place in Riga (Latvia). The EGMONT Group is an international organization whose mission is to fight against money laundering and terrorist financing (AML/CFT). To this end, it develops training and mechanisms to strengthen FIU cooperation at the global level. On the occasion of this plenary session, the Monegasque delegation, led by Mrs Karine Borgheresi, received a "certificate of appreciation from the EGMONT Group", a sign of recognition of the quality of the cooperation, of the contributions made within the Egmont Group for the Monegasque FIU, and for the organization of the Financial Cooperation Forum of the French-speaking FIUs of the Egmont Group last November.

 

2022 06 22 la place

On June 8th, the President of the Monegasque Association of Financial Activities, Mr. Etienne FRANZI, invited the members of the AMAF to a presentation of the activities and results of the banking market. Mrs. Agnès MONDIELLI, Director of the Budget and Treasury, Mrs. Magali VERCESI, Secretary General of the CCAF, and Mr. Christian DELHOMME, Departmental Director of the Banque de France, spoke.

As part of the Vigibanque Charter, signed in 2021, it was planned that Public Security would provide training to the staff of banks based in Monaco, in order to maintain a high level of security in the Principality through risk prevention.

These training courses relate to the management of conflict situations or aggression, to the risk of armed robbery and include security awareness in a banking environment.

They are delivered, free of charge, by trainers from the Police Academy of the Administration and Training Division of Public Security, who are well versed in these situations and have a great deal of experience in the field, particularly in intervention groups.

Three sessions have already been held at AMAF, with some thirty of our staff taking part. have participated.

In view of the keen interest aroused by these training sessions, new sessions should be held in September.

In a competitive and demanding market, this award recognizes the quest for excellence of the 400 employees of CFM Indosuez Wealth Management, which this year is celebrating 100 years of assisting families and entrepreneurs in managing and preserving their private and professional assets.

2022 02 03 Sicfin

On the occasion of his taking office, Guillaume VALETTE-VALLA received his his Monegasque counterpart Michel HUNAULT.
The occasion to evoke the quality of the cooperation exchanges between the two financial financial intelligence units.
The prevention of the laundering of the proceeds of organized crime, corruption and the fight against the financing of terrorism are based on the increased surveillance of financial flows.