Monaco Cracks Down on Money Laundering with Cutting-Edge AML/CTF Software Solution
Enhancing Anti-Money Laundering Policy
In an effort to strengthen its anti-money laundering policy, Monaco’s Information and Control Service of Financial Circuits (SICCFIN) has been working diligently to upgrade its computer system. This government-backed initiative involves the installation of “goAML”, a sophisticated software developed by the United Nations Office on Drugs and Crime (UNODC), specifically designed for Financial Intelligence Units like SICCFIN.
Empowering Countries in the Fight Against Money Laundering
The primary objective of this state-of-the-art solution is to empower countries in their fight against money laundering and terrorist financing. The all-in-one platform provides a comprehensive toolset, catering to FIUs of varying sizes, which has already been successfully deployed in several countries worldwide. Its international recognition speaks volumes about its effectiveness.
Gaining Insight into the Software’s Operation
Recently, three Monaco agents - Karine Imbert, Eric Bergesi, and Yann Raconnat le Goff - visited Liechtenstein at the invitation of EFFI Director Daniel Thelesklaf to gain insight into the software’s operation. Having been implemented by Liechtenstein several months prior, the visit provided a unique opportunity for SICCFIN staff to forge stronger ties with their EFFI counterparts.
Key Benefits of goAML
- Comprehensive toolset for FIUs of varying sizes
- Successfully deployed in several countries worldwide
- International recognition for its effectiveness in combating financial crimes
Monaco’s Efforts to Combat Financial Crimes
By leveraging this cutting-edge AML/CTF solution, Monaco is poised to take a significant step forward in its efforts to combat financial crimes and maintain its reputation as a premier financial hub. This initiative underscores the country’s commitment to upholding high standards of transparency and integrity in the financial sector.
Conclusion
The implementation of goAML by SICCFIN marks a significant milestone in Monaco’s fight against money laundering and terrorist financing. With its cutting-edge technology and international recognition, this solution is well-equipped to support countries in their efforts to combat financial crimes and maintain their reputation as reputable financial centers.