Résumé:
Monaco is intensifying its efforts to be removed from the FATF grey list, following recognized progress in combating money laundering and terrorist financing, with the government aiming to exit the list by January 2026.
Histoire complète :
Monaco is intensifying its efforts to be removed from the gray list of the Financial Action Task Force (FATF) after making significant progress in combating money laundering and terrorism financing. The Committee for the Coordination and Monitoring of the Monegasque National Strategy against Money Laundering, Terrorism Financing, Proliferation of Weapons of Mass Destruction, and Corruption recently met to discuss the action plan recommended by the FATF. This meeting follows Monaco’s inclusion in the FATF’s enhanced surveillance gray list on June 28, 2024. The FATF urged Monaco to make efforts in areas such as money laundering and tax fraud committed abroad, seizure of criminal assets abroad, resources allocated to magistrates, effective and deterrent sanctions, and increased seizure of assets suspected of coming from criminal activities. The Monegasque government held a press conference to address these concerns, emphasizing several significant progress recognized by the FATF, such as strengthening measures against terrorism financing, establishing a new financial surveillance and intelligence authority, implementing targeted financial sanctions, and supervising associations based on risk assessments. The government has committed to removing Monaco from the gray list by January 2026, with intermediate milestones in May and September 2025. Despite already passing new laws in recent months, Monaco must implement the FATF’s action plan to improve its legislative framework. The government assures that there will be no immediate budgetary impact and emphasizes that being on the gray list in the short term has practically no impact, considering Monaco’s financial situation. Other countries, such as Croatia and Bulgaria, are also on the gray list. Despite the challenges, Monegasque authorities are confident that the principality will emerge from this situation stronger, with a solid economic model and continued attractiveness as a territory.
Source:
Monaco Tribune
