Martinique Country Summary
Sanctions
Low Concern
FATF AML Deficient List
Low Concern
Terrorism
Low Concern
Corruption
Low Concern
US State ML Assessment
Medium Concern
Criminal Markets (GI Index)
Medium Concern
EU Tax Blacklist
Low Concern
Offshore Finance Center
Low Concern
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Anti Money Laundering
Martinique is an overseas department and region of France. Information for France may be included below:
FATF Status
France is not on the FATF List of Countries that have been identified as having strategic AML deficiencies
Compliance with FATF Recommendations
The latest follow-up Mutual Evaluation Report relating to the implementation of anti-money laundering and counter-terrorist financing standards in France was undertaken in 2022. According to that Evaluation, France was deemed Compliant for 19 and Largely Compliant for 18 of the FATF 40 Recommendations. It was rated Highly Effective for 3 and Substantially Effective for 6 of the Effectiveness & Technical Compliance ratings.
Sanctions
There are no international sanctions currently in force against this country
Criminality
Rating |
0 (bad) - 100 (good) |
|---|---|
| Transparency International Corruption Index | 67 |
| World Bank: Control of Corruption Percentile Rank | 84 |
Martinique, as an overseas department of France, is subject to French laws aimed at combating corruption, including the 2017 "Loi Sapin II," which established an anti-corruption agency and mandated transparency in public life. Despite these measures, concerns remain regarding the effectiveness of enforcement against foreign bribery, with limited convictions and ongoing challenges in prosecuting such offenses. The OECD has noted that while France has made some progress in addressing corruption, significant gaps in implementation and awareness-raising efforts persist.
Economy
Martinique's economy, with a GDP of 8.4 billion euros in 2014, is primarily driven by tourism, alongside limited agricultural production and financial aid from mainland France. While banana cultivation is the main agricultural activity, it contributes only 1.6% to the GDP, and the economy faces challenges such as a chronic trade deficit and high import needs.
The investment climate in Martinique benefits from its status as an overseas department of France, offering a stable legal framework and access to EU markets. However, high import costs and a heavy reliance on tourism pose challenges for foreign investment, prompting the government to focus on infrastructure development and the promotion of sectors like renewable energy and technology to enhance economic diversification.
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- Risk Analysis
- Corruption
- Economy
- Sanctions
- Narcotics
- Executive Summaries
- Investment Climates
- FATF Status
- Compliance
- Key Findings