Saint Helena, Ascension and Tristan Country Summary
Sanctions
Low Concern
FATF AML Deficient List
Low Concern
Terrorism
Low Concern
Corruption
Low Concern
US State ML Assessment
High Concern
Criminal Markets (GI Index)
Medium Concern
EU Tax Blacklist
Low Concern
Offshore Finance Center
Low Concern
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Anti Money Laundering
Saint Helena, Ascension and Tristan da Cunha is a territory of the United Kingdom. Information for the United Kingdom may be included below:
FATF Status
The United Kingdom is not on the FATF List of Countries that have been identified as having strategic AML deficiencies
Compliance with FATF Recommendations
The last follow-up Mutual Evaluation Report relating to the implementation of anti-money laundering and counter-terrorist financing standards in the United Kingdom was undertaken in 2022. According to that Evaluation, the United Kingdom was deemed Compliant for 24 and Largely Compliant for 15 of the FATF 40 Recommendations. It remains rated Highly Effective for 4 and Substantially Effective for 4 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 | 71 |
| World Bank: Control of Corruption Percentile Rank | 91 |
Saint Helena, Ascension and Tristan da Cunha is a UK territory where corruption is not seen as a significant barrier for U.S. investors, thanks to the Bribery Act 2010, which establishes a comprehensive legal framework against bribery, including provisions for corporate liability. The UK has a robust system for reporting and investigating corruption, led by the Serious Fraud Office, and has strengthened measures like the Unexplained Wealth Order to tackle financial crimes. Despite challenges such as human trafficking, drug markets, and cybercrime, the UK government remains committed to combating organized crime and enhancing public trust in its legal and regulatory systems.
Economy
Saint Helena, Ascension, and Tristan da Cunha have an upper middle-income economy largely supported by the UK, with key industries including construction, fishing, and crafts. The islands primarily export fish and shellfish, with significant trade partners such as Singapore and the USA, while heavily relying on imports from the UK and Greece to meet their needs.
The investment climate in Saint Helena, Ascension, and Tristan da Cunha is positively influenced by substantial financial support from the UK and a stable political environment. The recent opening of an airport on Saint Helena has enhanced accessibility, which is expected to boost tourism and economic opportunities. However, the islands face challenges such as an aging population and outward migration that impact the labor market and necessitate ongoing efforts to attract investment and retain residents.
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- Risk Analysis
- Corruption
- Economy
- Sanctions
- Narcotics
- Executive Summaries
- Investment Climates
- FATF Status
- Compliance
- Key Findings