Monaco Completion of 2023 Rounds

 

Monaco’s SICCFIN, with a recent transformation into the Monegasque Financial Security Authority (#AMSF), has completed the 2023 data collection from over 1,100 obliged entities across 20 unique FI and DNFBP sectors using the STRIX AML product suite. This achievement represents a significant milestone in the digitalization, automation, and effectiveness of the AML/CFT risk assessment process at AMSF.

Notably, the returns were collected with a very high response rate, thanks in part to the obliged entities willful participation.

AMSF’s use of STRIX risk assessment and analytics capabilities is already informing and supporting the authority’s risk-based supervisory engagement plans, helping to enable increased Compliance and Effectiveness to FATF Recommendations 26 & 28 and Immediate Outcome 3.

For more information about the new AMSF and the 2023 AML/CFT returns, please visit www.amsf.mc.

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