Costa Rica Country Summary

FATF Status

Costa Rica 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 Report follow-up relating to the implementation of anti-money laundering and counter-terrorist financing standards in Costa Rica was undertaken in 2024. According to that Evaluation, Costa Rica was deemed Compliant for 17 and Largely Compliant for 20 of the FATF 40 Recommendations. It remains Highly Effective for 0 and Substantially Effective for 1 of the Effectiveness ratings.

Costa Rica faces significant challenges related to crime and corruption, particularly with issues such as human trafficking, drug trafficking, and environmental crimes being prevalent. Despite these challenges, the country has a strong institutional framework and active anti-corruption laws, supported by civil society and international cooperation, which contribute to its resilience against crime and corruption.

Costa Rica boasts a stable and diversified upper-middle-income economy, characterized by a well-educated workforce and low corruption levels, making it an attractive destination for foreign direct investment (FDI). In 2023, the country experienced a GDP growth of 5.0%, with FDI inflows reaching approximately USD 3.921 billion, predominantly from the United States, which accounted for 67% of total FDI. However, challenges such as a persistent fiscal deficit, high energy costs, and infrastructure deterioration pose risks to the investment climate, despite ongoing government efforts to streamline regulations and promote sectors like semiconductors and tourism.