Monaco renews support for UNODC Global Programme against Money Laundering, Proceeds of Crime and Financing of Terrorism

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On 26 November 2024, Minister of Foreign Affairs and Cooperation Ms Isabelle Berro-Amadeï signed an agreement to work with the United Nations Office on Drugs and Crime (UNODC) to support the Global Programme against Money Laundering, Proceeds of Crime and the Financing of Terrorism (GPML).

The Principality’s funding covers the period 2024–2025 and supports the second phase of a project to build the capacities of Central African nations (Congo, Democratic Republic of the Congo, Chad, Cameroon, Central African Republic) to counter money laundering and the financing of organised crime, terrorism and violent extremism.

In particular, it will contribute to the development and dissemination of an online training module aimed at organisations and bodies responsible for fighting financial crime to enable better identification and tracing of suspicious activities related to money laundering or terrorist financing.

The expected impact of this project will be improved capacity to detect and recover illicit finance for criminal purposes (organised crime, wildlife crime, drug trafficking, corruption, misappropriation of public funds), money laundering or terrorist financing (trafficking in raw materials, environmental crimes, funding of armed groups or armed terrorist groups) in beneficiary nations.

Monaco previously supported the first phase of this project in 2022–2023.

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[1] Begun in 1998, the GPML Technical Assistance Programme aims to develop a common approach to money laundering and terrorist financing. In particular, it seeks to build the capacity of member states to counter money laundering and the financing of terrorism by assisting both public and private entities with detection, seizure and confiscation of illicit finance.

2 Founded in 1997, UNODC has a mandate to combat illegal drugs and transnational crime. Its work helps to raise public awareness of the dangers of drugs and strengthen international efforts to combat the production and illegal trafficking of drugs, as well as the associated criminality. UNODC also contributes to criminal justice system reform and strengthening the rule of law, as well as efforts to combat transnational organised crime and corruption.