By ALISHA HOULIHAN for AMLi
THE TINY PRINCIPALITY of Monaco today recieved a withering evaluation of its ability to fight financial crime from the Council of Europe’s AML/CFT supervisor, MONEYVAL.
Fault is found in practically every basic tenet required of a robust AML and CFT regime from Beneficial Ownership, to STRs, staffing and the criminal justice system. Starkly, it is one of the worst assessments of recent times for a country with an advanced banking and financial system.
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