On 20 December 2024, the Principality of Monaco updated its list of States or territories whose anti-money laundering, combating the financing of terrorism or anti-corruption measures are strategically deficient (ETHR).
Please note:
• The following countries have been added to the list:
Algeria
Angola
Côte d'Ivoire
North Korea
Iran
Lebanon
Venezuela
• Turkey has been removed from the list,
• The United Arab Emirates remain on the list despite having been removed by the FATF - probably because the EU has not yet removed them from its list.
The full list is as follows:
Afghanistan;
Algeria;
Angola;
Barbados;
Bulgaria;
Burkina Faso;
Cameroon;
Congo, Democratic Republic of the;
Côte d'Ivoire;
Croatia;
Gibraltar;
Haiti;
Islamic Republic of Iran;
Jamaica;
Kenya;
Korea, Democratic People's Republic of;
Lebanon;
Mali;
Mozambique;
Myanmar/Burma;
Namibia;
Nigeria;
Panama;
Philippines;
Senegal;
South Africa;
South Sudan;
Syria;
Tanzania;
Trinidad and Tobago;
Uganda;
United Arab Emirates;
Vanuatu;
Venezuela;
Vietnam;
Yemen.
For more information on the list and how it may affect your business in Monaco, please contact consulting@rosemont.mc
The previous update was on 15 April 2024 when the Principality added Kenya and Namibia.