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a competence almost exclusively carried out over five years. Here, it's very different: we elements, we send a report to the courts and
by the SICCFIN. don't expect a country to put everyone on the public prosecutor's office.
SP: To illustrate this cooperation, we are in the gallows in one year! On the other hand, Eric Bergesi : International cooperation
the process of acquiring a tool, along with it will be necessary to show that cases are between FIUs is carried out via the Egmont
the Police Department (DSP), to analyse the very advanced in terms of resolution, to show group . We are therefore subject to common
*
movements of funds in blockchain, from international cooperation and that we have exchange rules, supplemented by bilateral
2024. In real terms, we will be able to check advanced by two or three squares on the agreements with other jurisdictions. The FIU
whether an association which collects funds board on all subjects - and that the dynamic has the ability to question its counterparts to
in Bitcoin for a just cause does not actually is beyond doubt. gather intelligence wherever it is located. At the
fund Al Qaeda. We have built a partnership same time, we receive more than 100 requests
with the DSP to align our methodologies and Is the AMSF the Principality’s corruption each year for clarification on accounts, a
speak the same language. The objective is representative? natural or legal person, a transaction, or a
also to save 30% of time in processing files. LD: Corruption is an important undercurrent property. For example, if a foreign FIU tells us
of money laundering, second only in Monaco that it has received reports about company X
How do you see the future for the Moneyval to fraud in terms of threat. Monaco has not domiciled in Monaco, it can ask us if we have
and Financial Action Task Force (FATF) yet ratified or signed the Merida Convention. information about it. We have the ability to get
monitoring? This step will lead to the establishment of an closer to the Business Development Agency
LD: First step, Monaco must produce a report anti-corruption agency which does not exist to (DDE) and we can then analyse information
for the FATF, the Post Observation Period date. At the AMSF, in the near future we will be on the actual beneficiaries, for example - and
Report (POPR). This is the report resulting setting up training and awareness raising on vice versa. We therefore provide some insight.
from the observation period, written by the corruption in particular. However, this is not If there is a criminal element, the information
country's authorities. Monaco was placed the most immediate area of concern, even if passes through the judicial channel.
under monitoring by the FATF in March 2023, we must make progress in the coming years.
following the report by Moneyval, which is Are you in great demand?
the armed wing of the FATF for the Council of Are your checks unexpected? EB: In Monaco, there are still many people who
Europe (a mini FATF in a way). We therefore SP: We generally give notice the week before, have accounts without being resident here.
had a period of one year to report what was mainly to ensure that the establishment will be We are therefore in great demand. In some
done following Moneyval's recommendations. able to receive us. What is new in bank controls countries that do not have this characteristic,
In summary, over 100 pages, the authorities is the possibility of using FICOBAM beforehand. we are much less so than in Monaco. The
will have to explain what has been put in place. However, if accounts are reported to us with requests received are very varied but mainly
Following this report, the FATF will ask us false information, we will be required to identify European. The spectrum is, however, very
questions in writing and in May 2024 it will be them and sanction them. A textbook case that broad.
time for the vital viva exam. Finally, in June, we have never encountered and that we do not
Monaco's case will be examined during the wish to encounter: a bank which voluntarily How much of this information arises from
FATF plenary. conceals 100 account lines out of 100,000. In legal proceedings?
this case, we would observe and sanction the EB: It is very difficult to answer that question
This is when we will know if Monaco will establishment via the Sanctions Department because there is a time lag between the
be on the grey list. Your prediction? How to of the AMSF. We have to be uncompromising. suspicious transaction reports received, the
avoid this grey list? reports sent to the prosecuting authorities
LD: Anything is possible. Above all, we must and the legal proceedings initiated on the
demonstrate that we have not just repainted the basis of them. In 2022, the number of releases
facade but that, on the contrary, everything that corresponds to 11% of suspicious transaction
has been done places us on a trajectory, that reports received; but this is only a matter of
there is a fundamental desire and a strategy. proportion, because if a declaration reaches
The important thing is also to show that this us, it is not uncommon that it only contributes
desire is shared by the public and private to a transmission to the judicial authorities
sectors. Our meetings, practical guides and © Michael Alesi / Direction de la communication years later. It is often only in the light of
webinars with remarkable audience results several facts or pieces of information that it
show that we have succeeded in getting Eric Bergesi, Cellule de Renseignement Financier is possible to produce a report. However, the
professionals on board. This public/private Financial Intelligence Unit trend in recent years has been upwards and
partnership has been built to last and we will the improvement in the quality of suspicious
have to convince our evaluators of this. In terms of international cooperation, what transaction reports that we are targeting,
goes through the FIU or the justice system? thanks to goAML, will undoubtedly make it
To show effectiveness, will it also be LD: The FIU is the receptacle for everything to possible to increase their number.
necessary to show sanctions and convictions do with suspicious transaction reports from
The Egmont Group is an international organisation whose
for money laundering? the private sector. Its work is intelligence. Once * mission is to combat money laundering and the financing of
LD: An evaluation of Moneyval takes place we have determined or noted the probative terrorism. To this end, it sets up training and mechanisms
intended to strengthen FIU cooperation on a global scale.
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