Risks & Compliance AML/CFT-P-C
Our expertise in Risks & Compliance AML/CFT-P-C in Monaco
99 AVOCATS supports professionals in the fight against money laundering, the financing of terrorism and proliferation of weapons of mass destruction, and corruption (AML/CFT-P-C), tailored to the specific needs and challenges of different sectors of activity.
Our team is involved in all stages of the AML/CFT-P-C process:
- Assessment of the compliance of existing AML/CFT-P-C systems;
- Development, updating, and revision of internal procedures and risk mapping;
- Awareness-raising and training for managers and employees;
- Advice and operational support in the implementation of AML/CFT/PC obligations;
- KYC assistance;
- Assistance during inspections by the Monegasque Financial Security Authority (AMSF);
- Management and monitoring of remediation plans;
- Representation and assistance in AMSF sanction proceedings;
- Advice and criminal defense, in conjunction with our Criminal Law Department, in the event of prosecution for AML/CFT-P-C offences.
In a context of continuously strengthening compliance requirements and recent regulatory changes affecting the Principality of Monaco, we are fully aware of the challenges involved in implementing and deploying an effective system to combat money laundering, the financing of terrorism and proliferation of weapons of mass destruction, and corruption (AML/CFT-P-C).
Compliance is a constantly evolving discipline. Its purpose is to support companies, regardless of their size or sector of activity, in complying with the legal and regulatory obligations that apply to them. It requires a detailed understanding of a complex legal environment and an appropriate internal organisation. By its very nature, compliance is an ongoing process.
It should not be seen as a constraint imposed by the State on the professionals concerned, but as a strategic tool made available to them. Compliance is above all a comprehensive policy for identifying, controlling and managing risks.
99 Avocats has a Department dedicated to compliance and AML/CFT-P-C regulations.
Its aim is to provide professionals with a clear, rigorous and operational framework enabling them to respond effectively to regulatory requirements, while preserving their interests and legal certainty.
This approach is based on in-depth technical expertise, a thorough understanding of the applicable regulations and recognised experience in control and sanction procedures in this area.
Monaco Law
AML/CFT-P-C Compliance in Monaco
Monegasque law implements legal provisions equivalent to those of European Union acts, which are aligned with the FATF Recommendations, in the fight against money laundering, the financing of terrorism and the proliferation of weapons of mass destruction, and corruption (AML/CFT-P-C), pursuant to Annex B of Monetary Agreement of 29 November 2011 between the Principality of Monaco and the European Union (see Sovereign Order No. 11-278 of 18 June 2025).
Compliance with Law No. 1.362 on combating money laundering, the financing of terrorism and the proliferation of weapons of mass destruction and corruption, as amended, and its implementing Sowereign Order No. 2.318 of 3 August 2009, as amended, includes, in particular, due diligence obligations (KYC and beneficial owners, KYT, etc.), organisational (procedures and internal control, awareness-raising and training, etc.), reporting to the Monegasque Financial Security Authority (AMSF) (STRIX questionnaires, goAML suspicious activity reports), but also in terms of targeted financial sanctions (TFCs).
Indeed, Monaco takes measures to freeze funds and economic resources necessary for the application of economic sanctions decreed by the United Nations, the European Union, France or another State which are intended to ensure compliance with norms and principles enshrined in public international law, in particular human rights, democracy, international peace and security (Sovereign Order n° 8.664 of 26 May 2021 as amended). TFCs compliance is closely linked to AML/CFT-P-C compliance.