Monaco leads Council of Europe push on money laundering
By Zak Jackson, MonacoViews Editorial
Holding the rotating Presidency of the Council of Europe's Committee of Ministers, Monaco convened an informal ministerial conference in Strasbourg this week drawing representatives from all 46 member states.
Strasbourg hosted the gathering on Wednesday, with Monaco using its current Presidency of the Committee of Ministers to place anti-money laundering and counter-terrorist financing at the top of the agenda. Justice ministers, prosecutors and financial intelligence specialists from across the 46 member states attended the informal ministerial conference.
The move signals how the Principality intends to use its presidencies of European institutions as a platform for issues where it has both credibility and direct interest. Monaco has long operated one of the more closely scrutinised financial compliance regimes in Europe, and championing this agenda at Council of Europe level reinforces that positioning on the international stage.
For residents and property owners in the Principality, the practical significance lies in the longer-term: tighter harmonisation of anti-money laundering standards across 46 countries tends to raise the bar for due diligence on cross-border transactions and property deals throughout the region.