Solomon Islands Country Summary
Sanctions
Low Concern
FATF AML Deficient List
Low Concern
Terrorism
Medium Concern
Corruption
Medium Concern
US State ML Assessment
Low 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.
If you would like a demo of our Subscription area, please reserve a day/time that suits you best using this link, or you may Contact Us for further information.
Anti Money Laundering
FATF Status
The Solomon Islands is not on the FATF List of Countries that have been identified as having strategic AML deficiencies
Compliance with FATF Recommendations
The last Mutual Evaluation Report relating to the implementation of anti-money laundering and counter-terrorist financing standards in The Solomon Islands was undertaken in 2019. According to that Evaluation, The Solomon Islands was deemed Compliant for 5 and Largely Compliant for 8 of the FATF 40 Recommendations. It was also deemed Highly Effective for 0 and Substantially Effective for 0 with regard to the 11 areas of Effectiveness of its AML/CFT Regime.
Sanctions
There are no international sanctions currently in force against this country
Criminality
Rating |
0 (bad) - 100 (good) |
|---|---|
| Transparency International Corruption Index | 43 |
| World Bank: Control of Corruption Percentile Rank | 50 |
Economy
The Solomon Islands has a lower middle-income economy heavily reliant on natural resources, with over 75% of the labor force engaged in subsistence agriculture and fishing. Key industries include fishing, mining, and timber, but the economy faces challenges such as high public debt and a significant trade deficit, with imports far exceeding exports.
The investment climate in the Solomon Islands is influenced by its abundant natural resources, yet it faces significant challenges due to political instability and inadequate infrastructure. The government is actively seeking to attract foreign investment, particularly in tourism and renewable energy sectors, but issues related to land ownership and local resistance pose substantial barriers to sustainable economic development.
Buy Full Solomon Islands Report
$125 one time payment
- Risk Analysis
- Corruption
- Economy
- Sanctions
- Narcotics
- Executive Summaries
- Investment Climates
- FATF Status
- Compliance
- Key Findings