Monaco’s Coordination Committee on financial crime, led by Minister of State Didier Guillaume, has reviewed key progress in combating money laundering and corruption, aiming to exit FATF’s grey list by May 2025.
On Thursday 5th December, the first assembly of the Coordination and Monitoring Committee for the national strategy to combat money laundering, terrorist financing, the proliferation of weapons of mass destruction, and corruption was held under the presidency of Minister of State Didier Guillaume.
During the meeting, Minister Guillaume acknowledged the significant progress made by state authorities and services over recent months. Key updates included an increase in administrative sanctions by the Directorate of Economic Development, ongoing reviews of penalties imposed in money laundering cases, and a rise in the seizure of assets suspected to originate from illicit activities.
See also: Monaco calls on private sector to flag risks in push to exit FATF grey list
These efforts are part of Monaco’s efforts to exit the Financial Action Task Force (FATF) grey list. As part of this initiative, the Principality is preparing to submit a progress report to FATF, detailing advancements toward the goals set for May 2025 under the Action Plan adopted in June 2024.
Looking ahead, Monaco has already begun laying the groundwork for its 2025-2027 national strategy to further strengthen its anti-money laundering and financial crime framework.
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Photo source: Government Communication Department