Syria Country Summary
Higher Risk
View full Ratings TableSanctions
Higher Concern
FATF AML Deficient List
Higher Concern
Terrorism
Higher Concern
Corruption
Higher Concern
US State ML Assessment
Higher Concern
Criminal Markets (GI Index)
Higher Concern
EU Tax Blacklist
Lower Concern
Offshore Finance Center
Lower 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
FATF Status
Syria is on the FATF List of Countries that have been identified as having strategic AML deficiencies
Compliance with FATF Recommendations
It should be noted that the new style FATF Mutual Evaluation has not yet been undertaken.
The last Mutual Evaluation Report relating to the implementation of anti-money laundering and counter-terrorist financing standards in Syria was undertaken by the Financial Action Task Force (FATF) in 2006. According to that Evaluation, Syria was deemed Compliant for 5 and Largely Compliant for 8 of the FATF 40 + 9 Recommendations. It was Partially Compliant or Non-Compliant for 5 of the 6 Core Recommendations.
Sanctions
As of 2026, sanctions on Syria by other nations and international bodies are largely targeted and have shifted away from broad embargoes, with the United Nations maintaining travel bans and asset freezes on individuals linked to past abuses while no comprehensive UN trade or arms embargo remains except for Security Council-mandated restrictions on terrorism and chemical weapons proliferation. Major actors such as the United States, European Union, United Kingdom, and other jurisdictions have mostly lifted comprehensive measures but retain targeted restrictions on Assad-era officials, human rights violators, captagon traffickers, and related entities, accompanied by humanitarian exemptions and ongoing reviews that could lead to reimposition if conditions deteriorate.
Criminality
Rating |
0 (bad) - 100 (good) |
|---|---|
| Transparency International Corruption Index | 15 |
| World Bank: Control of Corruption Percentile Rank | 0 |
Syria faces a dire situation regarding crime and corruption, characterized by pervasive human trafficking, arms trafficking, and a flourishing illicit drug market, particularly in Captagon production. The intertwining of state institutions with organized crime has created an environment where corruption is systemic, law enforcement is politicized, and the judicial system is ineffective, severely undermining resilience to criminal activities.
Economy
Syria's economy has been devastated by the ongoing civil war since 2011, resulting in an 84% contraction of its GDP and a shift towards a war economy heavily reliant on diminishing customs and income taxes. The agricultural sector, which previously contributed significantly to the economy, now faces challenges exacerbated by international sanctions, particularly on oil imports, leading to widespread poverty and food insecurity. The investment climate remains precarious due to ongoing instability and the need for substantial reconstruction, despite potential growth opportunities in sectors like tourism and natural gas, as the transitional government struggles to attract foreign investment and rebuild infrastructure amidst political and economic turmoil.
Subscribe to
Professional Plus
- Unlimited Access to full Risk Reports
- Full Dataset Download
- API Access
- Virtual Asset Risk Assessments
