Christina White
| Prince Rainier | ||||||
It’s far from a random authoritarian attack on the unsuspecting principality. France has the backing of international organizations, and can cite reports and symposiums issued recently on the hot topic of fighting financial crime. A report released in October by the French ministry of finance condemns “an important gap between law and reality”, specifically attacking the tax and money-laundering systems.
Although France and Monaco have the same financial laws, Monaco, whose banks fall under the supervision of French central bank, the Banque de France, doesn’t adequately enforce the laws in a relationship that depends on cooperation.
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