Anti-money laundering Law n° 1.503 in Monaco Law n° 1.503 - The new anti-money laundering law applicable to Monegasque companies
Law n° 1.503 - The new anti-money laundering law applicable to Monegasque companies
On December 23, 2020, National Council of Monaco has adopted Law No. 1.503 on Money Laundering, the fight against corruption and the financing of terrorism.
The Principality of Monaco has long fought against criminal activities of this type and this new law has come to strengthen the legal framework of Law n ° 1.362 of 3 August 2009 as amended.
It is also part of the need to introduce into domestic law measures equivalent to the 5th European anti-money laundering directive of May 30, 2018, the transposition of which, for the Principality, was set for December 31, 2020 at the latest.
Summary
- Law n ° 1.503: Impact of the new provisions
- Law n ° 1.503: Main novelties
- Reminders on your AML obligations
Newsletter AML No.2 in French
The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity.
Xavier Carpinelli
Associate Director • Accounting
KPMG in Monaco
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