Monaco Convenes High-Level Committee to Strengthen Anti-Money Laundering Measures

On Wednesday, the Coordination and Monitoring Committee of Monaco’s National Strategy to Combat Money Laundering, Terrorism Financing, and the Proliferation of Weapons of Mass Destruction convened for a crucial plenary session. Led by Minister of State Didier Guillaume, the meeting brought together representatives from key governmental bodies, the National Council, and leaders from the private sector. The session primarily focused on Monaco's current status on the Financial Action Task Force's (FATF) "grey list," which signals the need for increased monitoring and action in combating financial crimes.

During the session, Minister Guillaume praised the "collective commitment" of both public and private sectors toward addressing the FATF’s concerns. He highlighted the legislative and operational progress made thus far and emphasized the importance of continued collaboration in adhering to the robust action plan laid out by the FATF. The goal is clear: to strengthen Monaco's defenses against financial crimes and ensure compliance with international standards.

The dialogue between public authorities and the private sector remains vital in refining and implementing anti-money laundering and anti-corruption measures effectively. With several impactful measures already in place, Monaco is committed to maintaining rigorous compliance with anti-financial crime standards. As the Principality progresses, keeping practices and regulations up to date with European and international developments is a top priority to enhance the overall regulatory framework and secure Monaco's removal from the FATF grey list.