The Council of Europe published a report on Monday, 23 January 2023, which highlighted some major dysfunctions in the fight against money laundering in Monaco. The Financial Action Task Force wants the country in a period of observation.

The Council of Europe report mentions the significant money laundering risks that Monaco faces. activit s financi This is because of the symptoms res orient es Eà l ' internationale ” , dont le pays s est fait la sp 'É cialit é . According to the report Conseil de l' Europe , the Principality é est une “ cible de choix ” for illicit cross-border financial flows. Essentially, fraud is committed abroad, while the proceeds of crime are laundered in Monaco.

Furthermore, risk analyses, international cooperation, and the deterrent nature of sanctions are inadequate to deal with the risks of fraud and corruption, according to the report. This report will be submitted to the FATF plenary on 20 February and the country will certainly be in the observation phase for one year.