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Article: Monaco haven under fire.
- Article from:
- Sunday Business (London, England)
- Article date:
- October 15, 2000
CopyrightCOPYRIGHT 2000 Sunday Business Publishing. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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RANCE is cracking down on alleged money-laundering in its own backyard, threatening to move against Monaco, the tiny principality which borders the Republic and has long been a tax haven for the mega-rich.
The French government last week published reports from the finance and justice ministries accusing Monaco of being "vulnerable to money-laundering" and of bad faith in cross-border co-operation. They call on Monaco to adopt a series of measures to curb tax evasion and track down crime-linked cash. The French government said if there were no action, Paris would take measures to intervene in the city-state.
The principality responded by ...