Monaco steps up anti-money laundering work ahead of FATF review
By Alexandre Morel, MonacoViews Editorial
Minister of State Christophe Mirmand has praised the progress made by Monaco's authorities on anti-money laundering compliance as the Principality prepares for its fourth FATF progress report.
The Coordination and Monitoring Committee for Monaco's national anti-money laundering strategy met recently to take stock of where the Principality stands ahead of its next review by the Financial Action Task Force. Minister of State Christophe Mirmand acknowledged the advances made by Monaco's services and regulatory authorities since the FATF adopted the Principality's third progress report at its plenary session in February.
Mirmand paid tribute to the teams involved, recognising their sustained work throughout the monitoring process. The meeting also addressed ongoing and forthcoming exchanges related to the preparation of Monaco's fourth progress report, which will be a significant marker in the Principality's continued engagement with international financial compliance standards.
For Monaco's financial sector and property market, maintaining a strong FATF standing is not a procedural formality. It underpins the Principality's reputation as a well-regulated jurisdiction and has direct relevance for banks, notaires, real estate professionals, and others who operate under anti-money laundering obligations every day.