Monaco makes progress on money laundering rules
Monaco has strengthened its anti-money laundering framework, but the Financial Action Task Force says additional measures are still required.
Monaco has strengthened its anti-money laundering measures, but the international watchdog, the Financial Action Task Force (FATF), says more action is needed.
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Since June 2024, Monaco has improved reporting of suspicious financial transactions and expanded its financial intelligence unit, the AMSF, increasing staff from 20 to nearly 80 officers.
Administrative sanctions have also been tightened in high-risk sectors such as real estate and company services.
However, the FATF noted that key deadlines have passed and urged the Principality to ensure sanctions for AML breaches are effective, proportionate, and dissuasive.
Monaco is preparing its next National Risk Assessment for 2026-2027 and will report further progress to the FATF.
The FATF plenary in Mexico City also named Kuwait and Papua New Guinea as jurisdictions under increased monitoring and appointed Giles Thomson from the UK as its new President for 2026–2028.