Haiti Country Summary

FATF Status

Haiti is on the FATF List of Countries that have been identified as having strategic AML deficiencies

Latest FATF Statement - 21 February 2025

Since June 2021, when Haiti made a high-level political commitment to work with the FATF and CFATF to strengthen the effectiveness of its AML/CFT regime, Haiti has taken steps towards improving its AML/CFT regime, including improving the FIU’s access to and use of a wide range of information in its financial intelligence products through the adoption of a new organic law. The FATF recognises the political commitment expressed at a high level and the efforts demonstrated by Haiti to advance its commitments in the midst of the challenging social, economic and security situation within the country. Haiti should continue to work on implementing its action plan to address its strategic deficiencies, including by: (1) completing its ML/TF risk assessment process and disseminating the findings; (2) implementing risk-based AML/CFT supervision for all financial institutions and DNFBPs deemed to constitute a higher ML/TF risk; (3) ensuring basic and beneficial ownership information are maintained and accessible in a timely manner; (4) ensuring the FIU has adequate resources and processes to produce and disseminate operational and strategic analysis to competent authorities for combatting ML and TF; (4) demonstrating authorities are identifying, investigating and prosecuting ML cases in a manner consistent with Haiti’s risk profile; (5) demonstrating an increase of identification, tracing and recovery of proceeds of crimes; (6) addressing the technical deficiencies in its targeted financial sanctions regime; and (7) conducting appropriate risk-based monitoring of NPOs vulnerable to TF abuse without disrupting or discouraging legitimate NPO activities.

The FATF notes Haiti’s continued progress across its action plan, however all deadlines are expired and work remains. The FATF encourages Haiti to continue to implement its action plan to address the above-mentioned strategic deficiencies.

Compliance with FATF Recommendations

The last Mutual Evaluation Report relating to the implementation of anti-money laundering and counter-terrorist financing standards in Haiti was undertaken in 2019. According to that Evaluation, Haiti was deemed Compliant for 0 and Largely Compliant for 2 of the FATF 40 Recommendations. It was also deemed Highly Effective for 0 and Substantially Effective for 0 with regard to the 11 areas of Effectiveness of its AML/CFT Regime.

Corruption in Haiti significantly hampers business operations, with the country ranking 172 out of 180 on the 2023 Corruption Perceptions Index, the lowest in the Western Hemisphere after Venezuela. Despite legal frameworks against corruption, enforcement is inconsistent, and public anger over scandals like the Petrocaribe funds mismanagement has fueled grassroots movements demanding accountability. The political and economic turmoil, exacerbated by weak governance and rampant criminal activity, has created an environment where corruption thrives, further complicating efforts for institutional reform and public resource management.

Haiti's economy is characterized by significant challenges, including pervasive corruption, inadequate infrastructure, and political instability, which hinder its growth potential despite having abundant arable land and a youthful population. The country has experienced negative GDP growth, with a contraction of 1.9 percent in 2023, and high inflation rates reaching 27.3 percent, exacerbated by gang-related violence and supply chain disruptions. Approximately 5.5 million Haitians are in urgent need of humanitarian aid, highlighting the severe humanitarian crisis affecting the nation.

Haiti's investment climate is characterized by significant challenges, including pervasive corruption, inadequate infrastructure, and political instability, which deter foreign direct investment despite the country's potential advantages such as abundant arable land and a youthful population. The recent escalation of gang violence has further complicated the business environment, leading to increased internal displacement and disruptions in supply chains, particularly affecting the textile industry, which has seen a dramatic reduction in its workforce. To improve the investment outlook, Haiti requires substantial political and economic stability, alongside institutional reforms to enhance the business environment.