So far, this is what I found out: mequinol seems better than monobenzone:
"An alternate method of lightening is to use the chemical mequinol over an extended period of time. Both monobenzone and mequinol produce dramatic whitening of the skin, but react very differently. For stubborn pigmented lesions the Q-switched ruby lazer, cryotherapy or TCA peels can be used to ensure the skin remains pigment free.
Mequinol leaves the skin looking extremely pale however, tanning is still possible. Monobenzone applied topically completely removes pigment in the long term and vigorous sun-safety needs to be adhered to for life."
Depigmentation - Wikipedia, the free encyclopedia
:eek: But for the scary part dermatologists say it's similar to hydroquinone meaning it's cytotoxic
"Mequinol (4-hydroxyanisole)
Similar to HQ, 4-hydroxyanisole (4HA) is cytotoxic to melanocytes. Reports indicate it is clinically effective in inhibiting melanogenesis when used as a combination of 2% 4HA cream and 0.01% retinoic acid. The authors reported minimal local skin irritation with this combination. Two percent 4HA alone did not produce significant hypopigmentation. Mequinol is used in Europe in concentrations ranging from 5-20% and is approved in the United States for the treatment of solar lentigines."
eMedicine - Skin Lightening and Depigmenting Agents : Article by Alaina James
If you look on this site people mention it here and there, but it'll be best to look on other sites for info and test it out yourself