Ministerial Order no. 2020-558, published in the Journal de Monaco on September 11, 2020, updates the list of states whose legislation is recognized as insufficient or whose practices are considered to hinder the fight against money laundering, terrorist financing or corruption.
This publication amends Ministerial Order n°2018-930 of September 28, 2018.
As a reminder, any transaction involving a counterparty with links to one of the states on this list must be subject to special scrutiny and be the subject of a written report (cf. article 14 of Act no. 1.362 as amended)
Following this update, the list now includes the 20 states below. The changes apply from October 1, 2020.
- Myanmar/Burma
- Bahamas
- Nicaragua
- Barbados
- Uganda
- Botswana
- Pakistan
- Cambodia
- Panama
- Ghana
- Syria
- Iraq
- Trinidad and Tobago
- Jamaica
- Vanuatu
- Mauritius
- Yemen
- Mongolia
- Zimbabwe
Six states have been removed from the list: Bosnia-Herzegovina, Ethiopia, Guyana, Laos, Sri-Lanka and Tunisia.
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