Monaco Reaffirms Commitment to UN Anti-Money Laundering and Terrorism Financing Initiatives

On November 26, 2024, Isabelle Berro-Amadeï, Monaco’s Government Counselor-Minister for Foreign Affairs and Cooperation, strengthened Monaco's alliance with the United Nations Office on Drugs and Crime (UNODC) by signing a significant agreement. This agreement pertains to the Global Programme against Money Laundering, the Proceeds of Crime, and the Financing of Terrorism (GPML). The partnership is particularly focused on the 2024–2025 initiatives aimed at capacity building in Central African nations, including Congo, Democratic Republic of Congo, Chad, Cameroon, and the Central African Republic.

The funding from Monaco will facilitate the creation and distribution of an online training module designed specifically for agencies engaged in combating financial crimes. This initiative aims to bolster the skills needed to identify and track suspicious financial activities related to money laundering and terrorism financing. The primary objective is to enhance the capability of these nations to detect and intercept illicit funds that fuel organized crime, drug trafficking, corruption, environmental crimes, and the support of extremist or armed groups.

This collaboration underscores Monaco’s ongoing commitment to international security and judicial cooperation, building on its previous support during the first phase of the project from 2022 to 2023. The GPML, initiated in 1998, and the UNODC, established in 1997, are crucial in the global effort to combat illicit financial flows and strengthen the rule of law. Monaco’s continued participation highlights its dedication to fostering global security, promoting transparency, and supporting sustainable development across international borders.