Monaco has officially exited the Financial Action Task Force gray list of jurisdictions under increased monitoring for anti-money laundering deficiencies, marking a major regulatory milestone for the principality.
The removal was announced late Friday afternoon, October 30, by the intergovernmental anti-money laundering watchdog. This designation change also applies to Bulgaria, Côte d’Ivoire, and the Democratic Republic of Congo.
The development represents a central objective for Prince Albert II, his government, and the broader local financial sector, which had prioritized compliance reforms following its initial inclusion on the monitoring list in June 2024.
That earlier gray-list placement had dealt a blow to the reputation and economic standing of the Mediterranean city-state, which maintains one of the highest concentrations of millionaires in Europe and had faced recent scrutiny from prior financial scandals.
The G7-backed watchdog’s previous decision to place Monaco under heightened surveillance signaled cautionary measures to international investors, prompting global financial institutions and banks to impose stricter transaction controls on operations linked to the principality.
