Monaco’s top officials met on Thursday 15th May to evaluate the country’s performance in its ongoing effort to overhaul financial safeguards and meet international compliance standards. The session, led by Isabelle Berro-Amadeï, Minister of Foreign Affairs and Cooperation and acting Minister of State, brought together members of the first College of the National Coordination and Monitoring Committee for the Fight Against Money Laundering and the Financing of Terrorism.

At the heart of the meeting was the Principality’s forthcoming progress report, which will be submitted to the Financial Action Task Force (FATF) during its plenary session in June. The report will be Monaco’s first formal opportunity to show how far it has come since being placed under enhanced monitoring last year.

According to a statement by the Monaco government, officials acknowledged meaningful improvements already underway across various sectors, from tighter supervision of financial institutions to clearer mechanisms for tracking ownership and freezing illicit assets.

While the results so far are promising, the tone in the room was one of focus rather than celebration. With the FATF’s scrutiny ongoing, committee members urged all departments to remain firmly on task.

The ultimate objective remains Monaco’s removal from the FATF grey list—a designation that carries reputational risk for international financial centres. Though no date has been confirmed, the June review is widely seen as a critical checkpoint in that process.

Since the beginning of this compliance journey, Monaco has launched a national strategy to align itself more closely with global best practices. As Minister Berro-Amadeï pointed out earlier this year, the initiative also honours the Principality’s broader vision: to be a responsible and transparent player on the international stage.

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