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2023 statistics on the rise… Sass' Café, will be in court in April in connection
Moneyval may well have criticised the low with a case of money laundering and drug
number of convictions for money laundering trafficking; but it is undoubtedly the Fabrizio
in Monaco but we do not see statistics A case (mentioned by Bloomberg) which
increasing in 2023. “Seventeen people were will be talked about this year. Half a dozen
tried for money laundering by the courts in 15 Monégasque bankers are indicted, accused
cases, in which eight people were acquitted either of money laundering or of failing to
© Manuel Vitali - Direction de la communication to between three months suspended to have in common is having as a client Fabrizio
– five of whom were, however, convicted of
report suspicious transactions as they were
carrying out compliance functions. What they
another offense – and nine people sentenced
18 months in prison and six confiscation
A, an Italian businessman, prosecuted by the
Italian courts, who deposited hundreds of
sentences,” explains Stéphane Thibault. As
thousands of euros in cash and diamonds in
for the Court of Appeal, it ruled in two older
cases and sentenced two people to 12 months
the bank's safe. This trial, the date of which
in prison and 12 months with six suspended,
Stéphane Thibault,
plus a ban from practising for 10 years, as well
according to Monaco's Public Prosecutor.
Procureur Général de Monaco / Prosecutor General of Monaco
as confiscations. “This constitutes a strong has not yet been set, “will last three days”
“was at the heart of a major criminal group development,” according to the magistrate, Seizures and confiscations
engaged in drug trafficking" and that he was since in 2022 there were obviously only two One of the main measures is the
in contact with a Monaco police woman who convictions (one in court and one on appeal) creation of a seized or confiscated
retired last summer. “This is the first Joint and only one in 2021, “a strong signal for assets management service, placed
Investigation Team (JIT) in Monaco,” rejoices Moneyval ,” as several lawyers agree. under the authority of the Director
Monaco's Public Prosecutor, an technique of Judicial Services, Sylvie Petit-
which means that, by mutual agreement, Leclair, responsible for ensuring
an international pool has been created by New anti-money laundering the management of seized or
French and Monégasque authorities to carry weapons confiscated assets and, if necessary,
out investigations in both countries, with a In recent months, new laws have their alienation, free allocation or
specific objective and for a limited period. “The enriched Monaco's arsenal to combat destruction. “This service could also
authorities decide together the distribution money laundering, terrorism financing be responsible for going ahead with
of offences to be dealt with, via wiretapping, and corruption. priority payments on funds or the net
property to be seized, etc.” Investigators For the past 18 months, legislative asset value of confiscated property, in
gain time and efficiency: “No more need packages intended to align with favour of any person who has become
for international rogatory letters as we can international standards in the fight a civil party and who has benefited
authorise foreign investigators to intervene against money laundering, terrorist from a final decision granting damages
directly on our territory, according to predefined financing and corruption have and interest, in compensation for the
conditions,” explains Stéphane Thibault. punctuated the agenda of the National damage suffered as a result of the
In parallel with the imposing French operation Council. Several measures have infringement. “In France, the agency
(which notably resulted in the seizure of handguns, strengthened both the Monégasque for the management and recovery
watches and luxury objects and even an armoured penal code and code of criminal of seized and confiscated assets is
Audi A8), an investigation is currently underway procedure and the famous Article 218, posting record results, with the amount
in Monaco into money laundering and narcotics relating to laundering the proceeds of of assets seized and confiscated by
trafficking. “There was first an anonymous an offence - in particular, the criminal French justice (often buildings, luxury
denunciation to the police department and, liability of legal entities; punishment cars and watches, as well as drones)
whilst investigating, the Monégasque police for negligence; the creation of an being on the verge of exceeding the
realised that the French were also investigating offence of non-proof of resources; the one billion euro mark in 2023,” observes
the same group or individual. The enquiry carried appointment of assistants specialised Stéphane Thibault. “Next to prison, the
out under the authority of the Public Prosecutor's in money laundering (whose mission penalty of confiscation is the most
Department was, therefore, geared towards is to assist magistrates throughout effective. It’s a sentence that hits
sharing information before the summer, so that the investigation); and the extension hard and impoverishes the offender,”
the investigating judges could coordinate. This of the seizure of property liable to says Nicolas Bessone, Director of
resulted in the signing of a JIT agreement in confiscation to all underlying offences. AGRASC . It should be noted that until
*
October, under which the simultaneous operations now seizures in Monaco were managed
could be carried out. Two Monégasques aged 23 by the Treasury of the General Court
and 26 were indicted and placed under judicial …and big money laundering cases for 2024 Registry.
supervision by the judge,” observes the magistrate, However there is more: in 2024, major money
adding that the JIT is still in progress and that the laundering cases are expected to be heard in * Interviewed by France Info in 2022.
investigation is ongoing. court. The Principality's cult night spot, the

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