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.

Wallis and Futuna, as a French overseas collectivity, is subject to France's anti-corruption laws, including the "Loi Sapin II," which aims to enhance transparency and combat corruption among public officials. Despite these efforts, concerns remain regarding the enforcement of laws against foreign bribery, with the OECD noting insufficient progress in prosecuting such cases and a lack of clarity in legal definitions. Overall, while France has established a robust legal framework to address corruption, challenges persist in its implementation and the political landscape continues to raise questions about the integrity of public officials.

The economy of Wallis and Futuna is predominantly agrarian, with approximately 80% of the labor force engaged in subsistence agriculture, fishing, and livestock, heavily supported by French subsidies. The territory's GDP was estimated at $188 million in 2005, with key industries including copra, handicrafts, and fishing, while remittances from expatriates in New Caledonia also play a significant role in the economy.

The investment climate in Wallis and Futuna is shaped by its status as a French overseas collectivity, which offers stability and access to French markets. However, the territory faces challenges such as limited infrastructure, a small market size, and a reliance on French government support, which can hinder significant foreign investment. Additionally, the presence of only one local bank limits financing options, highlighting the need for economic diversification to improve investment opportunities.