FATF Plenary reaches preliminary conclusion that Monaco has substantially completed its action plan

At the end of its Plenary Meeting, held from 15 to 19 June 2026 in Paris, the Financial Action Task Force (FATF) adopted the fourth progress report submitted by the Principality of Monaco. In the report, which follows on from three previous submissions, the FATF reaches the preliminary conclusion that Monaco has substantially completed its action plan drawn up in June 2024.

These achievements illustrate the serious, meticulous and effective nature of the work undertaken over many months. They are the result of improved cooperation between the various Monegasque offices and authorities mobilised as part of the national action plan led by the Committee for Coordination and Monitoring of the National Strategy on Anti-Money Laundering and Countering the Financing of Terrorism, Proliferation of Weapons of Mass Destruction and Corruption (AML/CFT-P-C). The Committee operates under the authority of the Minister of State and with support from a dedicated Permanent Secretariat, set up alongside the Committee in August 2024.

Significant progress on criminal and administrative penalties welcomed

In adopting this report, the FATF has acknowledged all of the measures taken by the Principality to improve its anti-money laundering and counter-terrorist financing framework, and in particular the progress on criminal and administrative penalties.

Since the beginning of the process, Monaco has improved understanding of the risks associated with money laundering and income tax evasion committed abroad, and the application of penalties for offences relating to basic information and beneficial ownership requirements. The country has also reviewed penalties for money laundering and, where appropriate, taken measures to strengthen the deterrent effect, as well as the effectiveness and proportionality, of these penalties.

It should also be noted that the FATF has previously acknowledged progress in the following areas:

• Sustained increase in international requests to identify and seize assets obtained through criminal means abroad;
• More human and technical resources for the Monegasque Financial Security Authority (the Financial Intelligence Unit);
• Quality and timeliness of suspicious transaction reports;
• Bolstering of human resources within the Public Prosecution Department (new economic and financial department);
• Good track record on seizing assets suspected to have been obtained through criminal activities.

FATF representatives set to visit Principality

In light of this progress, a visit to the Principality will be arranged shortly, though the date is yet to be determined.

The aim will be to confirm that the reforms undertaken have now been fully and sustainably integrated into the operations of the relevant institutions, and to reaffirm the high-level political commitment of the Prince’s Government and the courts in the Principality, at the behest of His Serene Highness the Sovereign Prince, to ensure that the Monegasque framework continues to comply with best international practices on countering money laundering, terrorist financing and the financing of organised crime.

The Prince’s Government would like to thank the FATF for the quality of the discussions that have taken place, the efforts of its staff and its recognition of the progress achieved. The Government would also like to thank the MONEYVAL Committee for its support.