These comprise Part III of the so-called Moneyval Act* (in response to the Moneyval Report, which placed the Principality of Monaco under increased scrutiny), which aims to ensure that Moncaco complies with international standards in the fight against money laundering, corruption, the financing of terrorism and of arms of mass destruction.
The key points of this part III are:
- Enhancing the effectiveness of criminal proceedings: by reducing the time taken to conduct proceedings, better guaranteeing the enforcement of court decisions, and extending the jurisdiction of the Principality's courts.
- Strengthening the deterrent effect of the criminal justice system and the effectiveness of sentences: by reinforcing the legal arsenal and clarifying the regime and effects of the arrest warrant.
- Introducing preventive checks at the initiative of the public prosecutor: including the use of dogs trained to detect banknotes.
- The creation of the status of "judicial guardian" responsible for the possession, conservation and use of property placed under seal, seized or confiscated.
- The introduction of the offence of "failure to provide proof of means", which will punish anyone who cannot provide proof of means that correspond to their lifestyle by being in contact with people who commit on or have committed crimes or offences punishable by at least 3 years' imprisonment, and anyone who provides fictitious proof of means for these same people.
- An overhaul of the extradition procedure to bring national law more into line with international standards, in particular with the creation of a simplified extradition procedure.
A bill for Part IV was tabled on 17 November, with the aim of being passed as early as possible in 2024.
A summary of the first two parts can be found here:
For more information, please contact office@rosemont-mc.com