St Lucia Country Summary

FATF Status

St Lucia 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 relating to the implementation of anti-money laundering and counter-terrorist financing standards in St Lucia was undertaken in 2023. According to that Evaluation, St Lucia was deemed Compliant for 14 and Largely Compliant for 16 of the FATF 40 Recommendations. It remains Highly effective for 0 and Substantially Effective for 0 of the Effectiveness & Technical Compliance ratings.

St. Lucia faces significant challenges related to crime and corruption, despite having established laws and institutions aimed at combating these issues. While the government has made strides in addressing corruption through legislation and international commitments, the lack of prosecutions and systemic involvement of corrupt officials remains a concern, alongside the presence of local gangs involved in drug distribution and other criminal activities.

Saint Lucia's economy is primarily driven by tourism, which is complemented by sectors such as real estate development, manufacturing, and global business outsourcing. Despite its growth of approximately 3.8 percent in 2024, the economy remains susceptible to external shocks, including natural disasters and global economic fluctuations. The government is actively fostering a favorable investment climate by offering various incentives for both domestic and foreign investors, including a "one-stop shop" service through Invest Saint Lucia to facilitate the investment process and ensure compliance with local laws.