The Coordination and Follow-up Committee for the National Strategy For Tackling Money Laundering

Comité Moneycal ©Direction de la Communication - Stéphane Danna

The two colleges of the Coordination and Follow-up Committee for the National Strategy for Tackling Money Laundering, Terrorist Financing, Proliferation of Weapons of Mass Destruction and Corruption met on Tuesday 17 June, under the chairmanship of Ms Isabelle Berro-Amadeï, Minister of Foreign Affairs and Cooperation, also serving as Minister of State.

Ms. Berro-Amadeï took this opportunity to thank the relevant departments and authorities, including the National Council and private sector representatives, for their unwavering commitment, which has brought about significant progress since the Principality was placed on the FATF grey list.

A series of meetings held by the First College, followed by the committee's plenary sessions, provided an opportunity to review all of these positive developments, which were noted in the Principality's first report adopted by the FATF plenary on 13 June 2025, both in terms of the objectives to be achieved for this cycle and those relating to subsequent deadlines in the ICRG monitoring process.

The most recent improvements were discussed, in particular the publication in the Journal de Monaco of Sovereign Ordinance No. 11.242 of 30 May 2025, which sets out the procedure enabling a magistrate to preside over the disciplinary committee of the Monegasque Financial Security Authority (AMSF).

The next steps in the process, as well as preparations for the upcoming evaluation by the MONEYVAL Committee, were also discussed.

The Prince's Government would like to clarify the current situation in light of recent publications regarding Monaco's inclusion on the European Union's list of high-risk countries for money laundering. It was noted, according to the methodology systematically followed by the European Commission, third countries placed on the FATF grey list are subsequently included on the European Union's list.

The institutional and private sector stakeholders who met during these committees were able to share their views and were urged to continue offering their full support and commitment.

For information purposes and in line with the numerous legal developments undertaken in the fight against money laundering, the Prince's Government has announced an amendment to the Customs Agreement of 18 May 1963 between France and Monaco, which was signed on 8 June 2025, demonstrating the importance of international cooperation.
Additionally, on 12 June 2025, a bill was submitted to the National Council regarding reserve judges and amendments to various provisions related to the appointment of magistrates to administrative bodies. On 4 June 2025, the Prince's Government informed the National Council of its decision to convert Bill No. 266, introducing guilty pleas and penal agreement procedures, into law.