Christmas Island Country Summary
Sanctions
Lower Concern
FATF AML Deficient List
Lower Concern
Terrorism
Lower Concern
Corruption
Lower Concern
US State ML Assessment
Medium Concern
Criminal Markets (GI Index)
Medium 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.
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Anti Money Laundering
Christmas Island is a territory of Australia. Information for Australia may be included below:
FATF Status
Australia is not on the FATF List of Countries that have been identified as having strategic AML deficiencies
Compliance with FATF Recommendations
The last Mutual Evaluation Report relating to the implementation of anti-money laundering and counter-terrorist financing standards in Australia was undertaken in 2024. According to that Evaluation, Australia was deemed Compliant for 18 and Largely Compliant for 12 of the FATF 40 Recommendations. It remains Highly Effective for 1 and Substantially Effective for 4 with regard to the 11 areas of Effectiveness of its AML/CFT Regime.
Sanctions
There are no international sanctions currently in force against this country
Criminality
Rating |
0 (bad) - 100 (good) |
|---|---|
| Transparency International Corruption Index | 77 |
| World Bank: Control of Corruption Percentile Rank | 96 |
Australia has a comprehensive legal framework to combat corruption, with a transparent government procurement system and active participation in international anti-corruption efforts. The country enforces strict laws against bribery of foreign officials, with significant penalties for violations, and various agencies work to ensure transparency and integrity in public service. Despite challenges such as human trafficking and organized crime, Australia maintains a strong governance structure and robust law enforcement to address these issues.
Economy
Christmas Island's economy is primarily driven by tourism and phosphate extraction, although the phosphate resources are nearing depletion. The territory relies heavily on imports, mainly from the USA and Australia, while its exports include fertilizers, paintings, and amine compounds, with significant trading partners being Indonesia, the USA, and Malaysia.
The investment climate in Christmas Island benefits from its status as an Australian territory, which ensures a stable legal framework and government support for business ventures. However, the closure of the phosphate mine and the absence of a commercial spaceport have restricted significant new investment opportunities. Future investments may focus on sustainable development and eco-tourism initiatives, leveraging the island's unique biodiversity.
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- Risk Analysis
- Corruption
- Economy
- Sanctions
- Narcotics
- Executive Summaries
- Investment Climates
- FATF Status
- Compliance
- Key Findings