Michel Hunault, Director of the Service d’Information et de Contrôle sur les Circuits Financiers (SICCFIN), Monaco’s financial investigation unit, and Lia Umans, an external consultant, took part in the Financial Action Task Force (FATF) session at the OECD due to the Principality’s participation in MONEYVAL.
The session provides an opportunity for discussions with global institutions (IMF, World Bank, etc.), the Egmont Group and other financial investigation units.
The plenary sessions and mutual evaluations conducted between states allow for the sharing of best practices in applying the FATF recommendations on combatting money laundering and terrorist financing.
They also give the Principality a chance to confirm, through its participation, the country’s determination to apply the leading international standards on preventing such activities with a view to forthcoming international evaluations.