Suriname Country Summary

FATF Status

Suriname 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 relating to the implementation of anti-money laundering and counter-terrorist financing standards in Suriname was undertaken in 2023. According to that Evaluation, Suriname was deemed Compliant for 3 and Largely Compliant for 11 of the FATF 40 Recommendations. It remains deemed Highly Effective for 0 and Substantially Effective for 0 of the Effectiveness Compliance ratings.

Suriname grapples with significant challenges related to crime and corruption, where enforcement of anti-corruption laws is sporadic and convictions remain rare despite the existence of legal frameworks. The country is a hub for various illicit activities, including human trafficking, arms trafficking, and illegal logging, while state-embedded actors and foreign criminal networks exacerbate the situation, undermining governance and public trust.

Suriname's economy is characterized by a government that actively encourages both local and foreign investment, particularly favoring U.S. investors with experience in developing markets. The investment climate is currently undergoing reforms to enhance legal protections for investors and streamline processes, although challenges such as corruption, lack of transparency, and an unclear approval process for foreign direct investment persist. The economy is heavily reliant on extractive industries, particularly gold and oil, with significant recent discoveries in offshore oil fields, while ongoing macroeconomic stabilization efforts supported by the International Monetary Fund (IMF) aim to restore fiscal sustainability and attract further investment.