Monaco

This chapter elaborates Monaco's money laundering legislation. The first stone in the construction of the legislative and regulatory body of anti-money laundering provisions was the definition of drugs trafficking on which subsequent anti-money laundering provisions were based. Any person who illicitly cultivates, employs, detains, offers, offers for sale, transfers, buys, sells, transports, distributes, delivers drugs, whatever the reason, even as a broker, is guilty of drugs trafficking and is liable to be imprisoned. Subsequently, provisions were added to allow assets acquired with the proceeds of the drugs trafficking to be confiscated and the financing relating to drugs trafficking was included in the definition of the offense of drugs trafficking and stronger penalties applied, marking the turning point, on the basis of which Monaco could enforce a strong and effective anti-money laundering policy.