Suriname Country Summary

FATF Status

Suriname is not on the FATF List of Countries that have been identified as having strategic AML deficiencies

Compliance with FATF Recommendations

The last follow-up Mutual Evaluation relating to the implementation of anti-money laundering and counter-terrorist financing standards in Suriname was undertaken in 2023. According to that Evaluation, Suriname was deemed Compliant for 3 and Largely Compliant for 11 of the FATF 40 Recommendations. It remains deemed Highly Effective for 0 and Substantially Effective for 0 of the Effectiveness Compliance ratings.

Suriname grapples with significant challenges related to crime and corruption, characterized by sporadic enforcement of anti-corruption laws and a lack of transparency in government procurement processes. While the government has initiated measures to combat corruption, such as the formation of an anti-corruption commission and the implementation of asset declaration requirements, these efforts have faced delays and limited effectiveness, highlighting a broader issue of entrenched corruption within state institutions.

The country also serves as a hub for various criminal activities, including human trafficking, drug smuggling, and illegal logging, with organized crime networks, both domestic and foreign, playing a prominent role in these markets. Despite some progress in governance and international cooperation, the government's limited power and persistent nepotism hinder meaningful reforms, while the judiciary and law enforcement face challenges related to corruption and resource constraints, further complicating the fight against crime.

Suriname's economy and investment climate have shown signs of improvement, bolstered by government support for local and foreign investments, particularly in the energy sector, which has attracted significant foreign direct investment (FDI). Key reforms, including updates to legal frameworks and measures to enhance transparency, have contributed to rising investor confidence, although challenges such as corruption and an unclear concession process remain. The recent stabilization of the macroeconomic situation, aided by the International Monetary Fund's economic recovery program, has further enhanced the investment landscape, making Suriname increasingly appealing to U.S. investors and international businesses looking to enter the market.