In order to respond to the recommendations of the Moneyval
Mutual Evaluation Report (5th cycle) published in December 2022,
a legislative arsenal relating to the fight against money
laundering, financing of terrorism, the proliferation of weapons of
mass destructions and corruption (AML/CFT) was adopted in
Monaco during 2023. These measures continue with the adoption by
the National Council of Law 1.559 of 29 February 2024 (known as
"Part IV").
The persons subject to Law 1.362 as amended, and indirectly many
other players in Monaco's economic life with them, have
therefore had to adapt in record time to the latest legislative
developments in the area of compliance.
Among them are professionals in the real estate sector, which is
one of the predominant sectors of the Monegasque economy
and one of the highest risk sectors according to the
second National Risk Assessment of Money Laundering and Terrorist
Financing.
