Monaco steps up FATF compliance ahead of fourth review
By Alexandre Morel, MonacoViews Editorial
The Principality's anti-money laundering coordination committee has met to assess progress since February's FATF plenary and prepare for Monaco's fourth evaluation report.
Minister of State Christophe Mirmand convened the national coordination and monitoring committee for Monaco's anti-money laundering strategy this week, using the session to take stock of what has been achieved since the FATF adopted the Principality's third progress report at its February plenary assembly.
Mirmand praised the sustained work of the various services and authorities involved since the FATF monitoring process began, acknowledging the breadth of reforms and administrative changes delivered across that period. The meeting also turned attention forward, with discussion of ongoing and forthcoming exchanges related to Monaco's fourth country report, which will represent the next significant test of the Principality's compliance framework.
For residents and businesses operating in Monaco, continued strong performance in FATF evaluations carries real weight. The Principality's standing in international financial compliance assessments directly influences how Monaco-based entities are treated by correspondent banks and foreign counterparts, making progress on this front relevant well beyond government offices.