Monaco’s Ministry of Finance and Economy reported that the Coordination and Monitoring Committee for the national strategy to combat money laundering, terrorist financing, proliferation of weapons of mass destruction and corruption held its first College meeting on 12 November and took stock of progress under the Financial Action Task Force (FATF) follow-up process. The update notes that the FATF plenary in October adopted Monaco’s second progress report, providing official endorsement of changes made since the first progress report. The Ministry highlighted an increase in international cooperation requests to identify and, where necessary, seize criminal assets abroad, additional resources for the Monegasque Financial Security Authority, and three new appointments to strengthen the Office of the Public Prosecutor. It also pointed to successful seizures of property suspected of being obtained through criminal means, and said Monaco has already completed a number of measures in its action plan, with several deemed broadly addressed ahead of the schedule agreed in June 2024. The Committee also discussed preparation of the third progress report, which is due to be submitted to the FATF shortly, and reviewed upcoming deadlines and milestones.
Ministry of Finance & Economy (Monaco) 2025-11-17
Monaco’s Ministry of Finance and Economy reports FATF endorsement of Monaco’s second progress report and reviews next AML milestones
Monaco’s Ministry of Finance and Economy reported that the Coordination and Monitoring Committee held its first meeting to review progress under the Financial Action Task Force (FATF) follow-up process. The FATF plenary endorsed Monaco’s second progress report, highlighting increased international cooperation and successful asset seizures. The Committee is preparing the third progress report for submission to the FATF.