Compliance & Regulation

GETTING TO KNOW YOU BETTER

Monte-Carlo Société des Bains de Mer offers a recognized, unique gaming experience that complies with current national and international standards.

Why should we ask you?

In accordance with regulations, our casinos are required to be vigilant with regard to the financial movements made by 2our customers.

Under the terms of Law no. 1.362 of August 3, 2009 on the fight against money laundering, terrorist financing and corruption, as amended, "gaming houses and all providers of gambling services" must apply appropriate customer due diligence measures, proportionate to their nature and size, to meet the obligations of the aforementioned law.

In order to reduce exposure to money laundering risks, the internal procedures adopted by Monte-Carlo Société des Bains de Mer and the means of detection put in place meet these legal requirements.

Why are you concerned?

These vigilance measures apply to all our customers and to all types of transactions.

Gaming houses continue to be bound by the same due diligence obligations with regard to both "passing" and "regular" customers, for all transactions of an amount equal to or greater than the amount set by article 64 of Sovereign Order no. 2.318 of August 3, 2009, as amended, i.e. 2,000 euros.

A heightened or reinforced obligation of vigilance may also apply depending on the nationality of customers. People from countries under national or international sanctions, or from so-called non-cooperative countries, may be subject to lower transaction thresholds, or be restricted in carrying out certain operations.

These operations concern all types of financial transaction carried out by cash exchange, inward or outward, token exchange, credit card payment and bank transfers.

What information will you be asked to provide?

You will be asked to provide personal and financial information, as well as any supporting documents. These may include your occupation, source of income, or the origin and source of funds involved.

Valid proof of identity is also required for transactions of 500 euros or more.

A Cash Deposit Declaration Form is systematically offered to customers for all transactions over 2,000 euros. Personal data collected includes personal address, professional activity, and source and origin of funds.

Knowledge of the business relationship is subject to the principle of proportionality laid down in article 4-3 of Law no. 1.362 of August 3, 2009. Accordingly, information must be gathered in proportion to the intended purpose and nature of the business relationship. To corroborate the information provided, supporting documents must be produced on request.

If the Casino considers that the information previously obtained is no longer accurate or relevant, or if it has any doubts as to its veracity or accuracy, it will once again identify the customer and verify his or her personal details.

Is your personal data protected?

The confidentiality and security of your personal data are fundamental. To this end, a specific and secure protocol is applied within our Group.

Your information is neither given nor sold.

The information obtained from the customer has been declared to the authorities*.

This information is processed and stored solely for the purpose of fulfilling Monte-Carlo Société des Bains de Mer's due diligence obligations. Only a restricted group of dedicated employees have access to this information, which remains strictly confidential.

What happens if you refuse?

Due to the regulations in force, we would be unable to carry out the transaction, but we would still be delighted to welcome you to our restaurants or other establishments.

In accordance with the provisions of article 7 of Law no. 1.362 of August 3, 2009, when the organizations and persons referred to in articles 1 and 2 have not been able to fulfill the obligations of vigilance prescribed in articles 4-1 and 4-3, they may not establish or maintain a business relationship, or carry out any transaction, including occasional transactions.

Do other casinos have similar obligations?

All world-renowned gaming establishments are subject to the same or similar regulations. For example, they are required to exercise constant vigilance with regard to their customers' financial movements.

On December 26, 2001, a Monetary Agreement was signed between the French Republic on behalf of the European Community and the Government of H.S.H. the Prince of Monaco. A new Monetary Agreement was signed between Monaco and the European Union, represented by the French Republic and the European Commission, on November 29, 2011.

The provisions of this Convention provided for the incorporation into Monegasque law of EU directives on the fight against money laundering.  

Law no. 1.362 of August 3, 2009 on the fight against money laundering, the financing of terrorism and the proliferation of weapons of mass destruction, and corruption, as amended, takes account of these regulatory developments and incorporates legal provisions comparable to those applicable in European Union countries.

The Principality of Monaco is also a member of the Financial Action Task Force (FATF), a global organization monitoring money laundering and the financing of terrorism. As such, its members cooperate closely at international level.

The FATF draws up policies to combat money laundering and the financing of terrorism, and issues recommendations that countries must implement. These recommendations are widely implemented in the European Union through the Fifth Money Laundering Directive.

Should you have any questions, please do not hesitate to contact our support team

*The personal information collected by Monte-Carlo Société des Bains de Mer is intended to be the subject of automated processing of "Fight against money laundering, terrorist financing and corruption" declared.

In accordance with Regulation (EU) 2016/679 of April 27, 2016 and Monegasque Law no. 1.165 of December 3, 2024 , you have the right to access, rectify, oppose, delete, limit and port your personal data. If you can prove your identity, you can exercise your rights by contacting the Data Protection Officer by e-mail at data-privacy@sbm.mc. If, after contacting the Data Protection Officer, you feel that your rights have not been respected, you may submit a complaint to the Autorité de Protection des Données Personnelles (APDP.mc).

This data will be kept for the period required by law.