Maldives Country Summary
Medium Risk
View full Ratings TableSanctions
Lower Concern
FATF AML Deficient List
Lower Concern
Terrorism
Medium Concern
Corruption
Medium Concern
US State ML Assessment
Lower 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
FATF Status
The Maldives 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 The Maldives was undertaken in 2025. According to that Evaluation, the Maldives was deemed Compliant for 1 and Largely Compliant for 14 of the FATF 40 Recommendations. It was rated Highly Effective for 0 and Substantially Effective for 0 with regard to the 11 areas of Effectiveness of its AML/CFT Regime.
Sanctions
There are currently no international sanctions in force against Maldives.
Criminality
Rating |
0 (bad) - 100 (good) |
|---|---|
| Transparency International Corruption Index | NA |
| World Bank: Control of Corruption Percentile Rank | NA |
The Maldives continues to grapple with significant corruption and crime challenges, despite ongoing efforts to enhance transparency and accountability. Corruption permeates various levels of society, undermining economic growth, while the country is also a hub for human trafficking, drug trafficking, and organized crime, exacerbated by weak enforcement of laws and institutional weaknesses.
Economy
The economy of the Maldives is predominantly driven by tourism, which accounts for nearly 30% of the GDP and over 60% of foreign currency earnings, although the sector faced significant challenges during the COVID-19 pandemic. Recovery has been underway since late 2020, with tourist arrivals reaching 2.04 million in 2024, and the government is investing heavily in expanding tourism capacity while also aiming to diversify the economy, particularly by increasing the digital services sector's contribution to GDP. Despite a projected GDP growth of 5.1% in 2024 and the highest per capita GDP in South Asia, issues such as income inequality, high public debt, and limited employment opportunities for locals, especially in remote areas, remain pressing concerns.
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