Financial Crime World

Monaco Publishes Second Compliance Report in 4th Evaluation Round on Corruption Prevention

Strasbourg, March 30, 2023

The Group of States against Corruption (GRECO) has released its second compliance report for Monaco’s fourth evaluation round, focusing on corruption prevention measures for members of parliament, judges, and prosecutors. The report was adopted during GRECO’s 93rd Plenary Meeting in Strasbourg from March 20-24, 2023.

A Milestone in Combatting Corruption

The publication of this report marks a significant milestone in Monaco’s efforts to combat corruption, as it provides an assessment of the principality’s progress in implementing anti-corruption measures since the first compliance report was published. The report highlights areas where Monaco has made improvements and areas that require further attention.

Recommendations for Strengthening Institutional Frameworks

According to GRECO, the second compliance report emphasizes the importance of:

  • Strengthening institutional frameworks: Implementing effective mechanisms for preventing corruption in government institutions.
  • Enhancing transparency: Increasing public access to information and ensuring accountability through transparent decision-making processes.
  • Ensuring effective investigations and prosecutions: Improving the efficiency and effectiveness of investigations and prosecutions to combat corruption.

Recommendations for Preventing Corruption in the Judiciary

GRECO also recommends:

  • Developing a comprehensive strategy for preventing corruption in the judiciary, including measures to prevent conflicts of interest and ensure impartiality.
  • Improving whistleblower protection: Strengthening safeguards to protect individuals who report suspected cases of corruption from retaliation or intimidation.

Access the Full Report

The full report is available on the GRECO website in both English and French.