The Government of Monaco has issued a firm rebuttal in response to inaccurate media reports suggesting the Principality is being blacklisted by the European Union in relation to anti-money laundering measures…
At a meeting with members of the Monegasque Association of Financial Activities (AMAF), Minister of Finance and Economy Pierre-André Chiappori denounced the claims, which first appeared in a confidential online publication in what he described as “an extremist tone.”
The article, later echoed by several mainstream outlets including Les Echos, falsely asserted that Monaco was to be added to an EU blacklist as a punitive measure, an assertion the Minister called “surreal” and “an example of bad journalism.”
Clarifying the situation, Minister Chiappori explained that the confusion appears to stem from a misunderstanding of existing EU procedures. The European list in question is regularly and almost automatically updated to mirror the Financial Action Task Force (FATF) “grey list,” which includes countries under enhanced monitoring, not a blacklist. Any inclusion would be procedural, not punitive, and certainly not indicative of new failings by Monaco.
He further underlined that the most recent OECD evaluations regard Monaco as a “very good student” in terms of tax transparency, and that the Principality has made significant progress in strengthening its financial controls.
Minister Chiappori emphasised that Monaco remains fully committed to international cooperation and compliance. “To suggest otherwise is misleading and damaging,” he said, adding that such sensationalised reporting only serves to misinform the public and undermine serious institutional work.
Image: Monaco Info
