SMFSC Welcomes Government’s Decision to Reform Anti-Money Laundering and Counter-Terrorism Financing Supervision Framework

The San Marino Financial Standards Council (SMFSC) welcomes the government’s decision to reform and modernize the supervision of anti-money laundering (AML) and counter-terrorism financing (CTF).
This initiative represents an important step toward building a more transparent, accountable, and resilient financial system that aligns with global best practices.

As a financial self-regulatory association, SMFSC works to complement national and international regulatory efforts by promoting voluntary standards and ethical guidelines that reinforce integrity across financial institutions.
The Council believes that a well-balanced approach to AML and CTF oversight can strengthen both compliance effectiveness and public trust.

“The government’s decision reflects a shared commitment to protect the integrity of financial markets,” said an SMFSC spokesperson. “Effective supervision not only prevents financial crime but also fosters investor confidence and long-term economic growth.”

Promoting Collaboration and Transparency

SMFSC underscores the importance of collaboration between regulators, financial institutions, and self-regulatory bodies to ensure the effective implementation of these reforms.
By aligning AML and CTF practices with international frameworks, San Marino can enhance its reputation as a trusted and compliant financial hub.

The Council continues to advocate for education, awareness, and proactive risk management as key tools in combating financial crime and preserving systemic stability.
Through its self-regulatory initiatives, SMFSC promotes a culture of accountability and ethical governance that supports the broader objectives of these reforms.

Commitment to Global Standards

SMFSC reaffirms its ongoing cooperation with international partners and its dedication to ensuring that San Marino’s financial standards remain consistent with global norms established by the FATF and other international bodies.

By working together, the government, regulators, and the SMFSC can ensure that financial growth is pursued responsibly, with integrity at the core of every transaction.