FATF puts Monaco under increased monitoring
At its June 2024 plenary the Financial Action Task Force added Monaco to its list of jurisdictions under increased monitoring (the 'grey list'), after MONEYVAL's evaluation. Banks and other regulated firms in many countries must apply enhanced due diligence to Monaco links. Monaco committed to an action plan, and in June 2026 the FATF found it substantially complete.
The FATF plenary of June 2024 added Monaco and Venezuela to its list of jurisdictions under increased monitoring. Monaco's Government committed to exiting the list.
What it means
- Monaco agreed an action plan with the FATF to fix strategic deficiencies in its anti-money laundering regime.
- Regulated firms elsewhere often apply enhanced due diligence to clients and structures linked to grey-listed jurisdictions, which can slow onboarding and transactions.
- Monaco had already strengthened company transparency in 2023, including Law no. 1.549 of 6 July 2023 requiring companies to name a Monaco-resident person to hold beneficial ownership information.
Later developments
The EU added Monaco to its own list of high-risk third countries from 5 August 2025, so EU firms must apply enhanced due diligence. In June 2026 the FATF found that Monaco had substantially completed its action plan, clearing the way for an on-site visit. Reports in September 2026 said removal was expected at the October 2026 plenary, which no FATF statement had confirmed at the time of writing.
Who is affected
Monaco companies and their beneficial owners, and groups with Monaco entities or bank accounts.