The Financial Action Task Force (FATF) has added Monaco to its grey list of jurisdictions under Increased Monitoring (see official statement below). The FATF press release acknowledges the significant progress made by the Principality on several actions recommended by MONEYVAL in January of last year.

In particular, the declaration highlights the strengthening of measures to combat the financing of terrorism, the creation of a new combined financial intelligence unit and AML/CFT supervisory authority, the implementation of targeted financial sanctions and risk-based supervision of non-profit organisations.

A timetable was established, over one year and a half, until January 2026, with two intermediate milestones in May 2025 and September 2025.

The Principality of Monaco reaffirms its determination to implement the latest FATF recommendations, as set out in the Declaration, in accordance with the deadlines.

Déclaration du GAFI

In June 2024, Monaco made a high-level political commitment to work with the FATF and MONEYVAL to strengthen the effectiveness of its AML/CFT regime. Since the adoption of its mutual evaluation report (MER) in December 2022, Monaco has made significant progress on several of the MER's recommended actions including by establishing a new combined financial intelligence unit (FIU) and AML/CFT supervisor, strengthening its approach to detecting and investigating terrorism financing, implementing targeted financial sanctions and risk-based supervision of non-profit organisations.

Monaco will continue to work with FATF to implement its action plan by: (1) strengthening the understanding of risk in relation to money laundering and income tax fraud committed abroad; (2) demonstrating a sustained increase in outbound requests to identify and seek the seizure of criminal assets abroad (3) enhancing the application of sanctions for AML/CFT breaches and breaches of basic and beneficial ownership requirements; (4) completing its resourcing program for its FIU and strengthen the quality and timeliness of STR reporting; (5) enhancing judicial efficiency, including through increasing resources of investigative judges and prosecutors and the application of effective, dissuasive and proportionate sanctions for money laundering; and (6) increasing the seizure of property suspected to derive from criminal activities.