Svalbard and Jan Mayen is a territory of Norway. Information for Norway may be included below:

FATF status

Norway 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 to the Mutual Evaluation Report relating to the implementation of anti-money laundering and counter-terrorist financing standards in Norway was published in 2023. According to that Evaluation, Norway was deemed Compliant for 19 and Largely Compliant for 18 of the FATF 40 Recommendations. It remains Highly effective for 0 and Substantially Effective for 5 of the Effectiveness & Technical Compliance ratings.

Svalbard and Jan Mayen, as a territory of Norway, adheres to Norway's strong anti-corruption framework, which ranks it among the least corrupt countries globally. The Norwegian Penal Code criminalizes various forms of corruption, including bribery and money laundering, and applies to acts committed both domestically and abroad. While Norway has demonstrated effective enforcement of its anti-corruption laws, recent evaluations suggest areas for improvement, particularly regarding jurisdiction over foreign bribery and corporate liability.

Svalbard and Jan Mayen has a high-income economy primarily driven by coal mining, tourism, and research sectors, with natural resources such as coal, iron ore, copper, and wildlife playing a significant role. The region is also notable for hosting the northernmost brewery and serves as a key base for whaling and fishing activities.

The investment climate in Svalbard and Jan Mayen benefits from its status as a non-self-governing territory of Norway, which provides a stable legal framework and encourages international investment through the Svalbard Treaty. Despite its remote location, the region's unique economic opportunities in tourism and research, along with its commitment to environmental protection and sustainable practices, make it an attractive destination for investors.