Monaco Removed from FATF Grey List After Two Years of Anti-Money Laundering Reforms
The international watchdog ends enhanced monitoring of the Principality after recognising significant progress in combating money laundering
Monaco has officially been removed from the Financial Action Task Force (FATF) grey list, the international watchlist of jurisdictions subject to increased monitoring over deficiencies in combating money laundering, terrorist financing and the financing of weapons proliferation.
The decision was announced on Friday, October 30, 2026, during the FATF plenary meeting held in Paris from October 28 to 30, attended by a delegation from Monaco.
The Principality's removal from enhanced monitoring follows more than two years of extensive institutional work and major legislative and operational reforms aimed at strengthening its financial oversight framework.
The FATF confirmed that Monaco had successfully completed its action plan within the agreed deadlines, following an on-site assessment conducted in September.
Monaco Strengthens Anti-Money Laundering Controls
Monaco was placed on the FATF grey list in June 2024 after the international watchdog identified strategic deficiencies in its anti-money laundering and counter-terrorist financing framework.
Since then, the Monegasque authorities have introduced a series of measures designed to strengthen financial supervision and improve the ability of public institutions to identify suspicious activities.
Among the improvements acknowledged by the FATF are stronger anti-money laundering enforcement, additional judicial resources, better information on the beneficial ownership of companies and increased efforts to identify and confiscate assets suspected of being linked to criminal activities.
The organisation also welcomed improvements in international cooperation and the more effective application of penalties for breaches of financial regulations.
Monaco's Government Welcomes Recognition of Financial Credibility
Monaco's Minister of State, Christophe Mirmand, welcomed the announcement, describing it as recognition of more than two years of coordinated work by the country's authorities and public institutions under the leadership of Prince Albert II.
“This decision recognises more than two years of concrete, rigorous and coordinated work carried out by all state authorities and services,” Mirmand said.
He stressed that compliance with international standards is a strategic governance choice intended to protect the credibility and stability of Monaco's financial centre.
However, the Minister of State also made clear that removal from the grey list does not mark the end of the reform process.
“We do not see this as a finish line. What matters now is what Monaco implements over the long term,” he stated.
A Significant Step for Monaco's International Financial Reputation
Being placed on the FATF grey list means a jurisdiction is subject to enhanced monitoring while addressing strategic weaknesses in its systems for combating money laundering and terrorist financing.
Monaco's removal therefore represents an important reputational development for a country where financial services and wealth management play a significant role in the economy.
Nevertheless, the Principality will continue working with MONEYVAL, the European regional body responsible for assessing anti-money laundering frameworks, to ensure that the improvements introduced remain effective.
During the same plenary meeting, the FATF also agreed to remove Bulgaria, Côte d'Ivoire and the Democratic Republic of the Congo from its grey list after confirming that their respective governments had successfully addressed identified deficiencies.
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