Monaco strengthens anti-money laundering strategy: new progress toward international FATF standards

The Principality of Monaco is continuing to strengthen its national strategy against money laundering, terrorist financing, the proliferation of weapons of mass destruction and corruption. These topics were at the center of the first meeting of the Coordination and Monitoring Committee for the national strategy, held on May 7, 2026 under the presidency of Minister of State Christophe Mirmand.

The meeting provided an opportunity to review the progress achieved by Monaco’s authorities and public services following the adoption of the Principality’s third progress report during the latest plenary session of the FATF held in February.

Monaco aims to exit the FATF grey list

During the meeting, the Minister of State highlighted the efforts undertaken to strengthen Monaco’s financial oversight system and align the Principality with the highest international standards in financial transparency.

Special attention was given to the next steps concerning Monaco’s fourth progress report and the strategic objective of exiting the FATF grey list, which includes jurisdictions subject to increased monitoring.

The Monegasque Government also reaffirmed the importance of maintaining close cooperation between institutions, financial operators and regulatory authorities in order to consolidate the progress already achieved.

Legislative reforms and stricter controls

Among the main measures currently underway are:

• a comprehensive review of the legislative and regulatory framework;
• stronger anti-money laundering regulations;
• enhanced controls against terrorist financing;

• risk monitoring linked to the proliferation of weapons of mass destruction;
• improved collection and analysis of statistical data.

Authorities are also working on Monaco’s third national risk assessment, considered a key tool for identifying vulnerabilities and strengthening financial prevention measures.

Institutional continuity and political transition

During the meeting, Christophe Mirmand thanked Pierre-André Chiappori for his commitment and contribution to the Principality’s reform process.

At the same time, he welcomed his successor, Frédéric Cottalorda, emphasizing the importance of political and administrative continuity in pursuing Monaco’s international commitments.

Monaco prepares for MONEYVAL evaluation

Beyond the FATF process, the Principality is also preparing for its future evaluation by MONEYVAL, the Council of Europe body responsible for assessing anti-money laundering and counter-terrorist financing measures.

According to the Monegasque Government, the progress already acknowledged by international organizations represents an important step toward strengthening Monaco’s financial reputation and ensuring long-term compliance with global standards.

The Minister of State concluded by stressing the importance of maintaining strong collective commitment among institutions and economic stakeholders to successfully complete the reform process and reinforce Monaco’s international credibility.