The Principality’s high-level coordination committee on anti-money laundering convened on Thursday, May 15, to assess progress in implementing Monaco’s national strategy against financial crime. Chaired by Isabelle Berro-Amadeï, Minister of Foreign Affairs and Cooperation and currently overseeing duties as Minister of State, the meeting brought together members of the inaugural board tasked with overseeing the country’s action plan on anti-money laundering, counter-terrorist financing, arms proliferation, and corruption.
The meeting highlighted the significant steps taken by Monaco’s institutions and enforcement bodies since the Principality came under review by the Financial Action Task Force’s (FATF) ICRG working group. Monaco has been under increased scrutiny since it was placed on the FATF’s “grey list”, reserved for jurisdictions requiring enhanced monitoring.
Officials confirmed that Monaco’s first formal progress report is expected to be adopted during FATF’s next plenary session, scheduled for June. The report is likely to play a pivotal role in determining whether the Principality remains on the grey list or moves closer to removal.
Looking ahead, committee members also discussed the next phases of the compliance roadmap and reiterated the importance of maintaining momentum. Authorities and institutions involved in the effort were urged to stay fully mobilised to ensure Monaco meets the necessary benchmarks for delisting as swiftly as possible.
The meeting reinforced the government’s commitment to transparency, financial integrity, and the strengthening of Monaco’s global reputation as a trusted and secure financial centre.
