Ministerial Order no. 2023-680 of April 15, 2024, published in Monaco’s Journal de Monaco on April 19, 2024, updates the list of states or territories whose anti-money laundering, terrorist financing or corruption system have strategic deficiencies.
This publication amends Ministerial Order no. 2021-703 of November 8, 2021, amended on November 22, 2023.
As a reminder, the obligations relating to HRST are as follows:
- When a transaction involves a counterparty with links to an HRST, a special examination report must be drawn up and kept (article 14 of the amended law n°1.362) ;
- When a business relationship or transaction involves an HRST, enhanced due diligence measures must be put in place (cf. article 14-2 of law no. 1.362 as amended).
The list currently comprises 30 countries. 2 states have been added.
Afghanistan | Namibia |
South Africa | Myanmar/Burma |
Barbados | Nigeria |
Bulgaria | Uganda |
Burkina Faso | Panama |
Cameroon | Philippines |
Croatia | Senegal |
United Arab Emirates | South Sudan |
Gibraltar | Syria |
Haiti | Tanzania |
Democratic Republic of the Congo | Trinidad and Tobago |
Jamaica | Turkey |
Kenya | Vanuatu |
Mali | Vietnam |
Mozambique | Yemen |