Wallis and Futuna Country Summary
Sanctions
Low Concern
FATF AML Deficient List
Low Concern
Terrorism
Low Concern
Corruption
Low Concern
US State ML Assessment
Medium 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
Wallis and Futuna is a French 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.
Sanctions
There are no international sanctions currently in force against this country
Criminality
Rating |
0 (bad) - 100 (good) |
|---|---|
| Transparency International Corruption Index | 67 |
| World Bank: Control of Corruption Percentile Rank | 84 |
Wallis and Futuna, as a French overseas collectivity, is subject to France's anti-corruption laws, including the 2017 "Loi Sapin II," which established an anti-corruption agency and mandated transparency in public life. Despite these measures, concerns remain regarding the enforcement of foreign bribery laws, with few convictions and significant challenges in prosecuting cases involving French companies abroad. The OECD has noted that while some progress has been made, many recommendations for improving the legal framework and enforcement mechanisms remain unimplemented.
Economy
Wallis and Futuna has a lower-middle-income agrarian economy that relies heavily on French subsidies and traditional subsistence agriculture, with around 80% of the labor force engaged in farming, fishing, and livestock. The economy is supported by remittances from expatriates and licensing fishing rights to foreign nations, with a GDP estimated at $212 million in 2019, indicating a significant dependence on external financial support.
The investment climate in Wallis and Futuna is shaped by its status as a French overseas collectivity, which offers stability but restricts local economic autonomy. The territory's heavy reliance on French subsidies and limited natural resources can deter foreign investment, although recent interest in improving infrastructure, particularly in telecommunications and transportation, may enhance the investment landscape. Challenges such as an aging workforce and environmental issues like deforestation also present risks for potential investors.
Buy Full Wallis and Futuna Report
$125 one time payment
- Risk Analysis
- Corruption
- Economy
- Sanctions
- Narcotics
- Executive Summaries
- Investment Climates
- FATF Status
- Compliance
- Key Findings