MONEYVAL - Report Next meeting of Committee for Coordination and Monitoring

The Committee for Coordination and Monitoring of the National Strategy on Money Laundering, Terrorist Financing, Proliferation of Weapons of Mass Destruction and Corruption, established by Sovereign Ordinance No. 9.729, dated 1 February 2023, will meet on 16 February.

The agenda will include the following:

1. Adoption of the Committee’s detailed work plan for 2023;
2. The programme for the AML Tuesday Webinars information campaign aimed at the private sector;
3. Updating of the National Strategy 2022–2024 and amendment of the accompanying national action plan.

The Committee was established following recommendations from the MONEYVAL Report that asked the Monegasque authorities to ensure that the Committee “would be an effective cooperation platform for all relevant authorities and would have the resources required to carry out its mission successfully.”

The Government would like to emphasise the point made by the MONEYVAL assessors that a Coordination Committee, established by Sovereign Ordinance No. 8.964, dated 6 December 2021, already exists but that there is a need to strengthen its powers and entrust it with a key role in determining the direction and actions to be taken in areas within its remit, with a view to further enhancing Monegasque provisions on combating financial crime.

The Committee for Coordination and Monitoring is chaired by H.E. the Minister of State, Pierre Dartout. Operational management and implementation of the recommendations in the MONEYVAL Committee report are the responsibility of Jean Castellini, Minister of Finance and Economy.