Money laundering: Monaco denies but accepts to cooperate

The Monegasque authorities refute any acceptation of money laundering. But they accept to cooperate with France for transparent relations.

Monaco’s reaction was rapid. All the more that the Fabius report did not only denounce money laundering in the Principality. He added to this issue in his report the custom, fiscal, monetary, and bank problems in Monaco.In a duplex press conference with Paris, which took place on Tuesday, October 10 at 2:00 pm in RMC (Radio Monte-Carlo) premises, the Monaco government authorities vigorously defended the Principality against any connivance about money laundering. ”The Monegasque measures presentation against money laundering do not take in account the arrangements decided last months to reinforce the fight”, State Minister Patrick Leclercq deeply underlined.The Monaco State representatives did not accept Bercy’s reproaches (the entire report can be read on the site of the Ministry of Finance: http://www.finances.gouv.fr/actualités). They confirmed that the removal of banking secret was possible in the same conditions as in France and that the French customs will receive all the pieces of information about money transactions in Monaco Casino.Patrice Davost, director of the Principality juridical services, denied the assertions ”about a so-called bad will of Monaco authorities”at the time of a mutual aid demand the French justice made. He said all the mutual aid demands the French justice made about money laundering had been satisfied.The reports’ publishing and media campaigns against Monaco were denounced and linked to the fact that France was presiding the European Union. The Monaco authorities have even though accepted to cooperate with France to make the financial and juridical relations between both countries transparent. And prove that the report’s assertions were not true.