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. Despite these efforts, concerns remain regarding the effectiveness of enforcement, particularly in cases of foreign bribery, as the number of convictions remains low and certain legal frameworks hinder prosecution. France's commitment to anti-corruption is further complicated by political appointments of individuals with corruption allegations, raising questions about the integrity of public officials.

Wallis and Futuna has a lower-middle-income agrarian economy that relies heavily on French subsidies and traditional subsistence agriculture, with approximately 80% of the labor force engaged in agriculture, fishing, and livestock. The main industries include copra, handicrafts, and fishing, while key agricultural products are coconuts, yams, and fish. Despite support from remittances and fishing rights licensing, the economy faces challenges such as an aging workforce, import dependency, and environmental issues.

The investment climate in Wallis and Futuna benefits from its status as a French overseas collectivity, which offers stability and access to French markets. However, the territory's limited economic opportunities and heavy reliance on subsidies may discourage significant foreign investment, despite gradual improvements in infrastructure and international interest in telecommunications and transportation.