Page 112 - Monaco Economy 117

Portrait

Michel Hunault “Now, more than ever, the law is the last

defence against arbitrariness.”

Former government minister, Michel Hunault, has been in charge Monaco’s central anti-

money laundering and corruption authority, the SICCFIN, since July 2019. He is the co-
founder of the #StopCorruption charity, the Honorary President of which is none other than
François Hollande.

Who would have thought that the Vice-President and, in particular, by mining corporations. He Michel Hunault distanced himself from that
of the parliamentary committee against dedicated himself to the distressing issue of label and, in a personal statement, denounced
delinquency, headed up by the Montebourg- the conditions inside France’s prisons: as an “inexcusable methods”, pointing out that
Peillon duo, would one day become director Expert Rapporteur for the Council of Europe, he “Monaco’s financial and banking marketplace
of the SICCFIN? Well, since 1 July 2019, visited different penitentiaries and met inmates. is controlled by the Bank of France” and that
this has been the case. A former member of Michel Hunault also brought the European “dirty money is laundered not in Monaco but in
parliament for the Loire-Atlantique, Michel Prisons Charter before the Council of Europe, France and, more particularly, on the Riviera.”
Hunault is now head of Monaco’s anti-corruption, advocating dignity in and the control of places of The RPR had also asked for an Investigative
terrorist financing and money laundering body incarceration. “One doesn’t do politics for oneself Committee to be set up to look inyo Russian
and, considering his credentials, it is hardly but for others,” he reminds us modesty. Much in investments on the Riviera.
surprising: he is a lawyer, a tutor at the Paris the same vein, he co-founded the #StopCorruption
Institute of Political Studies (Paris Sciences Po) charity, along with former Finance Minister, Roadmap
and specialises in the fight against corruption Michel Sapin (who is Co-President), François Now that he has stepped back from political life,
and the laundering of dirty money. He was Hollande (Honorary President) and Daniel Michel Hunault is focused on the roadmap fixed
the minister in charge of French legislation to Lebègue (former President of the Transparency for him at the SICCFIN. The EU’s fifth Anti-Money
combat money laundering in 1996 and to fight International France charity), with the aim of Laundering Directive was adopted by Monaco
corruption in 2007, as well as coordinating a promoting transparency and control of financial in December and he is now working on the
collective work, with a preface by Christine transactions: “The first international conference Principality’s second National Risk Assessment
Taubira, entitled The Fight Against Corruption, on best practice governance was held last year, process and the forthcoming evaluation of
Money Laundering, Tax Fraud: The Need For in partnership with Paris Sciences Po, bringing Monaco by the MONEYVAL Committee in
Ethics In Financial Transactions. Why ethics? together representatives from the teaching, January 2021, for which he has been appointed
“I have always been interested in ethics. I had financial and economic communities.” head of the Monégasque delegation. In the
a strict upbringing with demanding ideals and long term, “The SICCFIN will be transformed
our values were widely shared. I believe that the “The Montebourg Report was insulting” into an independent administrative authority,
institutions of the world, such as the FATF and Michel Hunault had his first contact with Monaco in accordance with the recommendations of
the UN, are there to make things better and that in relation to the Peillon-Montebourg Committee international standards governing financial
now, more than ever, the law is the last defence Report in 2000. The French parliamentarian intelligence units. Monaco needs to be credible
against arbitrariness,” answers this legal expert. did not appreciate “the excessive bias of the and above reproach in combatting the curse of
committee. The hearings and the report were, financial crime.”
“A strict upbringing” respectively, aggressive and insulting. At that
For the Hunault family, politics is a family tradition: moment, I understood how hurt Prince Rainier For his “Monaco mandate”, Michel Hunault is
Michel Hunault’s father, Xavier, was Mayor of and the then State Minister, Patrick Leclerq not short on plans, such as creating a Masters
Châteaubriant, a position now held by Michel’s were – and I was not the only one: the RPR Degree in Compliance in partnership with the
twin brother, Alain. A member of parliament from Conservative Party members voted against it, International University of Monaco. “We are
1993 to 2012, Michel Hunault has held local at my suggestion. In the end, I have been proved currently in talks with Christine Lagarde and
mandates as Mayor and Departmental Councillor right, as the Principality has largely adopted the owner of Facebook, in order to organise an
of Derval, as well as Vice-President of the Pays-de- the best international standards, such as the world forum in Monaco, which would deal with
la-Loire regional council. At the French National automatic exchange of information.” the issue of good governance as a condition of
Assembly, he argued for the principle of the the marketplace’s appeal, by adapting to the
control of human rights and environmental and Whilst the report painted Monaco as “a new challenges of the world financial system,
social standards by multinational companies complacent state under French protection”, with the hot topic being regulation.”

112