Members of Monaco’s Committee for the Coordination and Monitoring of the National Strategy against money laundering, terrorist financing, the proliferation of weapons of mass destruction and corruption met on Thursday, September 10, chaired by the Minister of State.
The meeting focused largely on Monaco’s ongoing review process with the FATF’s International Co-operation Review Group (ICRG), following the adoption of the Principality’s fourth progress report at the FATF’s most recent plenary assembly in June 2026.
The session builds on a broader transformation underway since 2022, which has seen a structural overhaul of Monaco’s national framework for combating money laundering and terrorist financing, alongside efforts to strengthen how effectively that framework actually operates in practice. That progress has led the FATF to preliminarily conclude that Monaco has largely completed the action plan it was set in June 2024, prompting the organisation to schedule an on-site visit to the Principality.
The Minister of State thanked and congratulated the authorities involved for their commitment and professionalism throughout the process, and for the range of improvements made since it began. He stressed, however, that beyond the current ICRG review, these efforts will need to continue given the substantial work still ahead, including Monaco’s third National Risk Assessment, as well as the Principality’s upcoming evaluation by the MONEYVAL Committee.
The meeting also included a presentation on recent mutual evaluation reports from other countries, offering a point of comparison between Monaco’s own anti-money laundering and counter-terrorist financing framework and those of foreign jurisdictions, while helping identify current expectations at the international level.
Image courtesy of Direction de la Communication – Stéphane Danna