Page 14 - MONACO LAW REVIEW 2025-2

AT THE HEART OF
INTELLIGENCE AND
INVESTIGATION
Th e strengthening of Monaco’s anti-money laundering
framework has signifi cantly improved the eff ectiveness of
information-sharing at both the intelligence-gathering stage
and the stage of the criminal investigation.
Information Sharing:
A Strategic Pillar of
Criminal Policy
Morgan RAYMOND
Morgan RAYMOND
Deputy Public Prosecutor
Deputy Public Prosecutor
In the fi ght against money laundering and the fi nancing of
terrorism, the preliminary investigation is a decisive phase in
which the boundary between intelligence and evidence, and
between operational effi ciency and procedural safeguards,
is drawn. International standards – foremost among them
the 40 Recommendations of the FATF – emphasise the
need for smooth cooperation and swift information-sharing
between competent authorities, both domestic and foreign.
These requirements refl ect a profound shift: criminal
enforcement can no longer operate in isolation; it must
rely on a dense institutional network connecting judicial
authorities, administrative bodies and private-sector actors.
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In the Monegasque context, this dynamic takes on particular
importance. Owing to the small size of the territory and the
concentration of highly monitored fi nancial activity, the
Principality has had to devise a model of close coordination
that reconciles the speed required for investigations with legal
certainty. Information-sharing thus becomes both a strategic
and a legal imperative: it determines the rapid detection of
suspicious fl ows, the identifi cation of criminal assets and the
success of international cooperation. It also raises questions
relating to the scope of professional secrecy, the protection of
defence rights and the control of intelligence-sharing channels.
A Unique Legal Framework for
Information Collection
The preliminary investigation is defi ned as the set of acts
carried out by the criminal investigation police with a view
to gathering any evidence useful to establishing the truth,
and its purpose is to enable the judicial authorities to decide
whether criminal proceedings should be initiated. It is
opened by the Public Prosecutor or, with his authorisation,
by a criminal investigation offi cer, pursuant to the recent
provisions of Law No. 1.533 of 9 December 2022.
The Public Prosecutor now operates within a clearly
defi ned legal framework and enjoys extensive investigative
powers (arrests, requisitions, searches of premises, seizures,
technical examinations, etc.). These powers are exercised,
under delegation from the Public Prosecutor, by criminal
investigation offi cers who, pursuant to Article 32 of the Code
of Criminal Procedure, record breaches of criminal law,
gather evidence and identify suspects.
Within this framework, information may be obtained
from “any person, or any public or private body, likely to hold
information or documents useful to establishing the truth”,
whether compulsorily through compulsory orders5 issued by
the Public Prosecutor or through searches of premises carried
out under the regime laid down in Articles 81-7 et seq. of the
Code of Criminal Procedure.
Within the same legal framework, specialised assistants
attached to the Public Prosecutor’s Offi ce play a specifi c and
exclusive role in money-laundering proceedings. They work
under the direction and supervision of the judges they assist,
and prepare summary or analytical documents that may be
included in the case fi le.
Key Actors in the Intelligence Process
Monaco has established a rigorous legislative framework to
combat money laundering, the fi nancing of terrorism and
corruption, which has continued to expand over time. Law No.
1.362 of 3 August 2009 forms the backbone of this framework.
It imposes obligations on fi nancial institutions and obliged