Réunion 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
Please note that although the below Summary will give a general outline of the AML risks associated with the jurisdiction, if you are a Regulated entity then you may need to demonstrate that your Jurisdictional AML risk assessment has included a full assessment of the risk elements that have been identified as underpinning overall Country AML risk. To satisfy these requirements, we would recommend that you use our Subscription area.
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Anti Money Laundering
Réunion 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
Bribery & Corruption
| Rating | 0 (bad) - 100 (good) |
|---|---|
| Transparency International Corruption Index | 67 |
| World Bank: Control of Corruption Percentile Rank | 84 |
Réunion, as an overseas department of France, is subject to French laws aimed at combating corruption, such as the "Loi Sapin II," which established an anti-corruption agency and mandated transparency in public life. Despite these measures, concerns remain regarding the enforcement of anti-corruption laws, particularly in cases involving foreign bribery, where the prosecution has been limited and the legal framework has not been fully aligned with international standards. France's commitment to improving its corruption perception is evident, but challenges persist in ensuring accountability and transparency among public officials.
Economy
Réunion's economy has a GDP of approximately 19.5 billion euros and a GDP per capita of 22,629 euros, which is lower than that of metropolitan France. While traditionally reliant on sugar production, the economy has diversified with tourism becoming a significant income source, although high unemployment and poverty remain challenges.
Réunion's investment climate is supported by its status as an overseas department of France, ensuring a stable political environment that attracts investments, particularly in telecommunications and renewable energy. However, high unemployment rates and demographic pressures pose challenges that may deter potential investors, despite ongoing efforts to modernize infrastructure and promote key sectors such as tourism.
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- Risk Analysis
- Corruption
- Economy
- Sanctions
- Narcotics
- Executive Summaries
- Investment Climates
- FATF Status
- Compliance
- Key Findings
