Compliance Officers Gather to Tackle Money Laundering and Corruption in Monaco
Event Summary
A packed room at the Novotel Monte-Carlo in Monaco hosted a crucial gathering of compliance officers on Tuesday, January 23, as the Association Monégasque des Compliance Officers (AMCO) dedicated its morning to the fight against money laundering, terrorist financing, and corruption. The event was followed by the association’s annual general meeting.
Expert Presentations
The day kicked off with expert presentations from three prominent figures in the field of compliance and financial regulation in Monaco:
- Louis Danty, Head of Supervision and Technical Advisor at the Monegasque Financial Security Authority (AMSF), discussed the importance of supervision, highlighting new tools implemented by the AMSF and outlining its national and international strategy.
- Stéphan Bruno, Director of Economic Development at the Monegasque Government, provided insights on economic and regulatory aspects, focusing on the concept of beneficial ownership.
- Bernard Bensa, President of the Monaco Bar Association, shared his legal expertise and compliance experience with attendees.
Roundtable Discussion
The roundtable discussion touched on various pressing topics, including:
- The new legal and regulatory landscape following the Moneyval report
- Consequences of the European evaluation report
- Government’s action plan
- Key points from laws 1.549, 1.550, 1.553, and draft law 1.084
Annual General Meeting
The subsequent general meeting focused on AMCO’s activity report for 2023, covering:
- Performance of various committees
- Association’s initiatives and projects
- Impact on Monaco’s regulatory landscape
Key topics addressed during the meeting included:
- Approval of AMCO’s accounts
- Provisional budget for 2024
- Proposed change in membership fees
Conclusion
The event provided compliance professionals in Monaco with a valuable platform to stay updated on trends and developments in the AML/CTF-PC field.