Falkland Islands (Malvinas) Country Summary
Medium-Low Risk
View full Ratings TableSanctions
Lower Concern
FATF AML Deficient List
Lower Concern
Terrorism
Lower Concern
Corruption
Lower Concern
US State ML Assessment
Higher 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
The Falkland Islands (Malvinas) is a British Overseas Territory of the United Kingdom. As such, we are including the information for the United Kingdom below:
FATF Status
The United Kingdom 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 the United Kingdom was undertaken in 2022. According to that Evaluation, the United Kingdom was deemed Compliant for 24 and Largely Compliant for 15 of the FATF 40 Recommendations. It remains rated Highly Effective for 4 and Substantially Effective for 4 of the Effectiveness & Technical Compliance ratings.
Sanctions
There are currently no international sanctions in force against Falkland Islands (Malvinas).
Criminality
Rating |
0 (bad) - 100 (good) |
|---|---|
| Transparency International Corruption Index | 71 |
| World Bank: Control of Corruption Percentile Rank | 91 |
The Falkland Islands (Malvinas), as a British Overseas Territory, benefits from the UK's legal framework and governance structures aimed at combating crime and corruption. While isolated instances of bribery and corruption may occur, the territory is generally perceived as having a low level of corruption, supported by effective law enforcement and a commitment to international cooperation against organized crime.
Economy
The economy of the Falkland Islands is primarily supported by fishing, tourism, and sheep farming, particularly for high-quality wool exports, resulting in a high GDP per capita despite a low overall GDP ranking. The fishing industry is a major contributor to the economy, accounting for 50% to 60% of annual income, while recent advancements in oil exploration and tourism are diversifying economic activities and addressing sustainability concerns. The investment climate is bolstered by a stable government that encourages foreign investment, infrastructure improvements, and a commitment to environmental sustainability, although geopolitical tensions may impact investment decisions.
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