This list, initially established by Ministerial Order No. 2021-703 of 8 November 2021, is a key component of Monaco’s AML/CFT framework.
Key update
The main change introduced by this Ministerial Order is the addition of the following jurisdictions:
- Kuwait
- Papua New Guinea
Full list of high-risk jurisdictions (ETHR)
As updated, the Monégasque list of high-risk jurisdictions includes:
- Afghanistan
- Barbados
- Burkina Faso
- Cameroon
- Democratic Republic of the Congo
- Gibraltar
- Haiti
- Iran
- Jamaica
- Mali
- Mozambique
- Myanmar
- Nigeria
- North Korea
- Panama
- Philippines
- Senegal
- South Africa
- South Sudan
- Syria
- Tanzania
- Trinidad and Tobago
- Uganda
- United Arab Emirates
- Vanuatu
- Vietnam
- Yemen
- Kuwait
- Papua New Guinea
Alignment with international standards
The Monégasque list is aligned with international standards, in particular:
- the Financial Action Task Force (FATF) lists ;
- and the European Union high-risk jurisdictions list.
Regulatory context
Jurisdictions included in this list are considered to present strategic deficiencies in their AML/CFT regimes.
As a result, transactions and business relationships involving these jurisdictions are subject to enhanced due diligence requirements under Monaco law.
How Rosemont can assist
Rosemont International supports clients in:
- monitoring regulatory developments in AML/CFT matters ;
- analysing jurisdictional risk exposure ;
- adapting compliance frameworks ;
- supporting private wealth and international structures.
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