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Money-laundering and the financing of terrorism

The fight against money-laundering, the financing of terrorism and corruption (AML/CFT) has been a major concern of the Principality of Monaco for a number of years.

In order to comply with international obligations and standards, Monaco's laws (AML/CFT) are evolving constantly, and they oblige all businesses subject to them to comply with them.

The legal provisions include an arsenal of criminal and administrative sanctions if these obligations are not complied with.

Grant Thornton's experts will assist you with the process of complying with AML/CFT through a range of services:

  • Drafting a comparative analysis between your organisation and the obligations imposed by the AML/CFT regulations, and suggesting improvements
  • Auditing and/or checking on whether your teams are complying with your processes, and drafting a report
  • Assisting with preparing or updating your internal procedures, adapting them to your business and the size of your company
  • In-house training on your AML/CFT processes and/or the legal provisions in force
  • Assisting with formalising the activity report to be sent to SICCFIN 
  • Formalising the annual accountant's report that makes it possible to assess your LAB provisions
  • Overseeing legal amendments, lists of countries at risk, etc, and communicating them by e-mail
  • Providing assistance with updates to the register of beneficial owners
  • Providing support during contacts with regulating agencies (questionnaires, correspondence, amendments, etc.)
  • Other services associated with the fight against money-laundering
Manager

Frédéric HEURTE

+377 92 05 30 75

Meet our expert