Sint Maarten

Sanctions

No

FATF AML Deficient List

No

Higher Risk

Compliance with FATF 40 + 9 Recommendations
US Dept of State Money Laundering assessment 
Offshore Finance Centre

Medium Risk

Weakness in Government Legislation to combat Money Laundering

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ANTI-MONEY LAUNDERING

FATF Status

Sint Maarten 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 Sint Maarten was undertaken by the Financial Action Task Force (FATF) in 2013. According to that Evaluation, Sint Maarten was deemed Compliant for 6 and Largely Compliant for 10 of the FATF 40 + 9 Recommendations. It was Partially Compliant or Non-Compliant for 5 of the 6 Core Recommendations.

US Department of State Money Laundering assessment (INCSR)

Sint Maarten is categorised by the US State Department as a Country/Jurisdiction of Primary Concern in respect of Money Laundering and Financial Crimes.

OVERVIEW

 

Sint Maarten is an autonomous entity within the Kingdom of the Netherlands (Kingdom).  The Kingdom retains responsibility for foreign policy and defense, including entering into international conventions.  Sint Maarten has been recognized by the OECD as a jurisdiction that has implemented internationally-agreed tax standards.  In 2016, Aruba, Sint Maarten, the Netherlands, and Curacao signed an MOU with the United States for joint training activities and information sharing related to criminal investigations and law enforcement.  An ongoing priority area is interdicting money laundering operations. 

SANCTIONS

There are no international sanctions currently in force against this country.

BRIBERY & CORRUPTION

 

Rating                                                                           (100-Good / 0-Bad)

Transparency International Corruption Index                           N/A

World Governance Indicator – Control of Corruption             N/A

ECONOMY

The economy of Sint Maarten centres around tourism with nearly four-fifths of the labour force engaged in this sector. Nearly 1.8 million visitors came to the island by cruise ship and roughly 500,000 visitors arrived through Princess Juliana International Airport in 2013. Cruise ships and yachts also call on Sint Maarten's numerous ports and harbours. Limited agriculture and local fishing means that almost all food must be imported. Energy resources and manufactured goods are also imported. Sint Maarten had the highest per capita income among the five islands that formerly comprised the Netherlands Antilles.

 

Agriculture - products:

Sugar

 

Industries:

tourism, light industry

 

Exports - commodities:

sugar

 

Country Links
Reporting Center for Unusual Transactions (MOT Sint Maarten)​
Central Bank of Curaçao and Sint Maarten
Other Useful Links
FATF
US State Department
Transparency International
World Bank
CIA World Factbook

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