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
- Algeria
- Angola
- Bolivia
- British Virgin Islands
- Bulgaria
- Cameroon
- Democratic Republic of the Congo
- Haiti
- Islamic Republic of Iran
- Ivory Coast
- Kenya
- Kuwait
- Democratic People's Republic of Korea
- Lao People's Democratic Republic
- Lebanon
- Myanmar/Burma
- Namibia
- Nepal
- Papua New Guinea
- Russian Federation
- South Sudan
- Syria
- Republic of Trinidad and Tobago
- Vanuatu
- Venezuela
- Vietnam
- Yemen
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.
Follow us on LinkedIn and don't miss our updates about Monaco, Malta, Mauritius, and the yachting industry.