Monaco removed from FATF grey list after reform drive

The Financial Action Task Force has formally removed Monaco from its grey list of jurisdictions under increased monitoring for money laundering and terrorist financing risks. The decision follows more than two years of sustained reform work by Monegasque authorities, based on progress reports submitted since 2024 and a direct on-site evaluation by FATF assessors in September.

Monaco was placed on the list in 2024 after the organisation identified gaps in the Principality's financial oversight framework, a move that drew scrutiny from international banks and complicated some cross-border transactions for residents and companies registered here. Since then, the government has overhauled supervision of financial institutions, tightened beneficial ownership rules and strengthened cooperation between regulatory bodies including the Commission de Contrôle des Activités Financières and the Service d'Information et de Contrôle sur les Circuits Financiers.

For the Rocher's banking sector, family offices and property market, which relies heavily on cross-border capital, the delisting removes a reputational constraint that had been flagged by correspondent banks and compliance departments abroad. Monaco's government has described the outcome as confirmation that its reforms reflect a long-term commitment to meeting international standards, rather than a short-term fix to satisfy assessors.