St Vincent & Gren Country Summary

FATF Status

St Vincent & the Grenadines 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 Saint Vincent and the Grenadines was undertaken in 2024. According to that Evaluation, Saint Vincent and the Grenadines was deemed Compliant for 13 and Largely Compliant for 17 of the FATF 40 Recommendations. It was deemed Highly Effective for 0 and Substantially Effective for 3 of the Effectiveness ratings.

Saint Vincent and the Grenadines faces challenges related to crime and corruption, particularly in areas such as human trafficking and drug trade, where foreign criminal networks, especially from Venezuela, play a significant role. While the government has implemented measures to combat corruption and improve transparency, issues such as limited access to information and resource constraints within the judicial system hinder effective law enforcement and public trust.

Saint Vincent and the Grenadines is a member of the OECS and ECCU, and in 2023, the country was on a recovery path from natural disasters and the COVID-19 pandemic, with the IMF projecting a 6% economic growth by the end of 2024. The government actively promotes foreign direct investment (FDI) in sectors such as renewable energy, tourism, and international financial services, with no restrictions on foreign ownership and a transparent regulatory framework that encourages investment. Despite its vulnerability to external shocks and climate change, the nation is focused on economic diversification and sustainability, supported by a multi-stakeholder policy framework aimed at enhancing climate resilience and adaptation.