Monaco Exits FATF Grey List After AML Reforms

The intergovernmental body praised the principality for making significant progress in strengthening its anti-money laundering and counter-terrorist financing regime. While the move offers a substantial boost to the local financial sector—home to major institutions like Barclays, UBS, and Edmond de Rothschild—the FATF emphasized that Monaco must continue collaborating with MONEYVAL to sustain these structural improvements.

Alongside Monaco, the FATF cleared Bulgaria, Côte d’Ivoire, and the Democratic Republic of the Congo from the grey list. During the same session, the organization prioritized accelerating global standards for virtual assets to counter the misuse of digital currencies in illicit financing. Meanwhile, the FATF maintained its hardline stance on high-risk jurisdictions, specifically urging Iran to criminalize terrorism financing and demanding that Myanmar address the surge of fraud and scam operations originating from its borders.