Summary:
The Monaco government has sanctioned 38 companies for violating legal provisions related to money laundering, terrorism financing, and corruption, following recommendations from Moneyval.
Full Story:
The Government of Monaco has imposed sanctions on 38 companies for violating legal and regulatory provisions in the fight against money laundering, terrorism financing, and corruption. These sanctions, totaling €1,424,500, were decided based on the recommendations of the Commission for the Examination of Control Reports. Monaco has been actively intensifying its efforts to combat these illicit activities since the last visit by Moneyval in the spring. The majority of the sanctions were imposed on companies in the financial and real estate sectors. The Government of Monaco remains committed to ensuring the integrity of its financial system and upholding international standards in the fight against financial crimes.
Source:
montecarloin
