Saint Pierre and Miquelon is a self-governing territorial overseas collectivity 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.

Saint Pierre and Miquelon, as a self-governing territorial overseas collectivity of France, is subject to French anti-corruption laws such as the "Loi Sapin II," which aims to enhance transparency and accountability among public officials. Despite these efforts, concerns remain regarding the enforcement of anti-corruption measures, particularly in cases involving foreign bribery, where the legal framework has not fully addressed the challenges identified by the OECD. The French government has made some progress in establishing anti-corruption agencies and promoting transparency, but significant gaps in implementation and enforcement persist.

The economy of Saint Pierre and Miquelon is primarily based on fishing and the support of fishing fleets operating off the coast of Newfoundland, although it faces challenges from disputes with Canada over fishing quotas and declining maritime traffic. Heavily subsidized by France, the islands are working to diversify their economy through tourism, potential oil exploration, and aquaculture developments.

The investment climate in Saint Pierre and Miquelon benefits from its status as an overseas collectivity of France, providing stability and support. The local government is focused on attracting investments in tourism, fisheries, and aquaculture, while also exploring opportunities in the energy sector to enhance economic prospects. The proximity to Canadian tourist areas is viewed as a significant advantage for boosting tourism.