Réunion Country Summary
Sanctions
No
FATF AML Deficient List
No
Terrorism
Corruption
US State ML Assessment
Criminal Markets (GI Index)
EU Tax Blacklist
Offshore Finance Center
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 | 71 |
| 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 is primarily driven by agriculture, particularly sugar, while tourism has gained importance. The GDP was estimated at 19.5 billion euros in 2019, with a GDP per capita of 22,629 euros, indicating economic disparity compared to metropolitan France. The island has faced challenges such as a recession during the COVID-19 pandemic and high unemployment rates, which have improved to 19.0% in 2023.
Réunion's investment climate is bolstered by its status as an overseas department of France, ensuring a stable political environment and access to European Union markets. The island's strategic location enhances its appeal for investments in sectors such as satellite communications and naval navigation, despite ongoing challenges like high unemployment and limited local job opportunities.
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- Risk Analysis
- Corruption
- Economy
- Sanctions
- Narcotics
- Executive Summaries
- Investment Climates
- FATF Status
- Compliance
- Key Findings
