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Monaco : new legislation to fight money-laundering

The AFP has reported that Monaco has adopted a new law on money-laundering as part of a drive to clean up its financial sector in line with international standards.

Under the new rules, insurers, accountants, notarial firms, high-end traders and lawyers helping with property or financial transactions will all be asked to carry out checks on their clients.

The law also introduces a new 30,000-euro (47,000-dollar) cap on cash payments, and boosts the powers of the FIU.

I will comment later the possible traps in this legislation.

17:20 Posted in Monaco | Permalink | Comments (0)

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