The Government of Monaco has welcomed the recognition received from the Financial Action Task Force (FATF) for the significant progress it has made in combating money laundering and terrorist financing…
This follows the Principality’s submission of its first progress report, as required after being placed on the FATF’s grey list in June 2024. During the joint FATF and MONEYVAL plenary session held on 13 June in Strasbourg, the FATF acknowledged that Monaco had taken robust national measures to improve its anti-money laundering (AML) and counter-terrorism financing (CTF) framework.
All the actions that were due for this reporting cycle were deemed to be “largely addressed,” with notable progress observed even on actions scheduled for future deadlines under the agreed action plan.
The Princely Government expressed its gratitude to FATF for the constructive dialogue and to all contributors to the report, particularly the MONEYVAL Committee and its Secretariat for their ongoing support. This positive evaluation is the result of an extensive and coordinated effort by Monaco’s government departments and oversight authorities, guided by the national coordination and monitoring committee for AML/CTF and related strategies.
Looking ahead, Monaco remains fully committed to completing the remaining actions in the agreed timeline, with the ultimate goal of securing removal from the grey list. The Principality aims to demonstrate the continued effectiveness and integrity of its national financial system and reinforce its role as a responsible international financial centre.
Photo by Victor He
