Monaco has received renewed international recognition for its efforts to strengthen the fight against money laundering and terrorist financing, following the adoption of its third progress report by the Financial Action Task Force (FATF)…
Meeting in Mexico from February 9 to 13, the organisation acknowledged the Principality’s substantial progress and tangible results, particularly in the quality and speed of suspicious transaction reports submitted to the Monegasque Financial Security Authority.
The FATF noted a marked improvement in Monaco’s detection and reporting mechanisms, reflecting the effectiveness of recent legislative reforms and the implementation of a risk-based supervisory approach. Administrative sanctions have also been reinforced across sectors considered more exposed to risk, including real estate, auctions and corporate service providers. The scale and scope of these sanctions demonstrate Monaco’s growing capacity to meet international standards for proportionate and dissuasive enforcement.
These advances are supported by significant structural reinforcement. Over the past four years, staffing at the Monegasque Financial Security Authority has increased from around 20 to nearly 80 agents, alongside enhanced supervision strategies and a fully operational sanctions unit. The Principality has also reported a steady rise in suspicious transaction filings, up by an average of 10 percent between 2023 and 2025, while requests for financial intelligence from international partners have climbed by more than 20 percent.
Looking ahead, Monaco will continue strengthening its judicial and supervisory framework throughout 2026, including additional prosecutorial resources and a reinforced financial crime chain. Authorities stress that these reforms form part of a long-term strategy to enhance credibility, resilience and international confidence in Monaco’s financial centre.
Image: fatf-gafi.org