Combating Money Laundering and the Financing of Terrorism: Prevention is a Shared Concern
In the Principality of Monaco, the cooperation and the exchange of data between the various players involved in combating money laundering, the financing of terrorism and corruption are governed by Act No. 1.362, which has recently been amended.
Within this framework, SICCFIN (the Financial Intelligence Unit) is required to receive, or be provided with, any information or document from other national authorities necessary for carrying out its duties. It may also transmit to these same authorities any information or document related to this Act that may be of use for undertaking their respective roles.
Thus, almost 400 requests and exchanges of information are sent to the Police Department every year.
Strengthening these communications is strongly encouraged at the international level in order to effectively combat money laundering, the financing of terrorism and corruption.
As with the cooperation agreements made in neighbouring countries, SICCFIN and the Police Department are reaffirming their wish to cooperate on an ongoing and ever more effective basis.
This Agreement, signed on Thursday 8 April 2021 at the premises of the Police Department, deepens the cooperation that has been constantly strengthened over the last few years within the strict framework of SICCFIN’s duties and the Principality’s international commitments.