Résumé:
Potential inclusion of Monaco on FATF grey list could lead to job cuts or closures in the banking sector, according to Pierre Franck-Crespi, the general secretary of the Union of Monaco Bank Employees.
Histoire complète :
The potential inclusion of Monaco on the FATF grey list could have significant consequences for the country’s economy and the employees of the banking sector. Pierre Franck-Crespi, the Secretary-General of the Monaco Banking Employees Union, expressed concerns about potential job cuts and closures of establishments. While the impact on the banking sector remains uncertain, there is a sense of unease among the employees. The Monaco Association of Financial Activities offers reassurances, stating that they are working closely with the government and international organizations to address any issues. The Prince of Monaco has also expressed his commitment to maintaining the principality’s reputation as a trustworthy financial center. It is important to note that Monaco has made significant progress in recent years to enhance its anti-money laundering and combating the financing of terrorism framework. The final decision on Monaco’s inclusion in the grey list will be made during the FATF plenary session in October 2024. Overall, the potential consequences of being included on the list are a cause for concern, but Monaco is actively taking steps to address any shortcomings and maintain its position as a reputable financial hub.
Source:
L’observateur de Monaco
