Pitcairn Country Summary

Pitcairn 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.

Pitcairn, as a British Overseas Territory, reflects the broader context of the United Kingdom in terms of crime and corruption, where isolated instances of bribery and corruption have been reported, yet they do not significantly hinder business operations. The UK has established a robust legal framework, including the Bribery Act 2010, to combat corruption, and maintains effective enforcement through agencies like the Serious Fraud Office, demonstrating a commitment to addressing corruption and organized crime.

Pitcairn's economy is a small, territorial one that relies heavily on exports such as postage stamps, handicrafts, and honey, while also being significantly supported by aid from the UK and EU, particularly after the COVID-19 pandemic. Agriculture and fishing contribute to local sustenance and trade, with honey production being a notable export due to its high quality. The investment climate faces challenges due to a small population and limited economic opportunities, leading to minimal success in attracting new residents and investors, although tourism is emerging as a potential growth sector.