Anti-money Laundering Law & Whistleblower

Law n°1.362 of 3 August 2009 on money laundering, terrorist financing, and corruption has significantly increased the obligations of economic actors regarding the control of financial flows.

The Monegasque legislator - following the example of many countries under the impulse of the OECD and other international organizations - intended to involve employers in the implementation of measures aiming to reinforce business transparency and to tackle practices threatening the general interest.

Procedures & appointment of a dedicated person

The obligations of Monegasque employers regarding anti-money laundering rules include the implementation of procedures, adapted to the size, nature, and exposure to financial risks of the entity concerned, allowing directors and employees to report deficiencies or breaches related to the Law.