The Financial Action Task Force on Friday formally removed Monaco from its grey list of jurisdictions under increased monitoring, ending a process that began in 2024 after the Principality faced heightened scrutiny over anti-money laundering, counter-terrorist financing, counter-proliferation financing and anti-corruption risks.
The decision, made during the FATF’s plenary session in Paris, which ran from 28 to 30 October 2026, was announced in front of a Monegasque delegation. It follows an on-site inspection by the FATF conducted last September and was based on Monaco’s progress reports detailing the measures adopted since 2024.
Christophe Mirmand, Monaco’s Minister of State, said the decision recognised more than two years of coordinated work by the Principality’s authorities and departments, under the leadership of Prince Albert II. He described adherence to international standards as a governance choice serving the credibility of Monaco’s financial sector and cautioned that the exit should be viewed as a milestone rather than a conclusion, adding that reforms would continue as practices evolve.
The FATF reached a preliminary conclusion in June 2026 that Monaco had largely completed the Action Plan it adopted in 2024, when it accepted the Principality’s fourth progress report.
Monaco’s reforms spanned six key areas, according to the Principality.
Risk identification was strengthened, including a deeper understanding of money laundering risks linked to tax fraud committed abroad. International cooperation was expanded through a sustained increase in mutual legal assistance requests sent to foreign authorities to identify and seize criminal assets, along with prioritisation of inbound requests.
Sanctions for professionals failing to meet anti-money laundering obligations and for breaches of transparency requirements on the beneficial owners of companies were significantly tightened.
Staffing at the Monaco Financial Security Authority, which supervises professionals and operates as the Financial Intelligence Unit, was quadrupled and is set to reach 80 by the end of 2026. The quality of suspicious transaction reports improved and processing times shortened.
The justice system was resourced further, with criminal penalties for money laundering made more effective, proportionate and dissuasive. The seizure and confiscation of assets suspected of originating from criminal activity also rose significantly.
The Principality credited the outcome to work carried out over many months by its various departments and authorities. The government said it acknowledged the involvement of the National Council and of private-sector stakeholders throughout the monitoring process.
A committee that coordinates the national AML/CFT/CPF/AC strategy and the Permanent Secretariat will remain in place after the grey-list exit. Three workstreams are already under way: a continuous review of the legislative and regulatory framework, the creation of a national statistical database, and a third national risk assessment launched recently.
The measures are intended to help Monaco prepare for its upcoming MONEYVAL evaluation under the sixth round.
The government thanked the FATF and its secretariat for the discussions and recognition of progress, as well as the MONEYVAL committee for its support.
