France

Member since 1990

The FATF evaluated the effectiveness of France's measures to combat money laundering and the financing of terrorism, and their compliance with the FATF Recommendations in 2022.  The assessment concluded that France has a robust and sophisticated framework to fight money laundering and terrorist financing that is effective in many respects, notably in law enforcement, confiscation areas and international cooperation but needs to do more in areas such as the supervision of professionals involved in the activities of legal persons and the real estate sector.

France is achieving particularly good results in the use of financial intelligence, money laundering investigations and prosecutions, with competent authorities prioritising the prosecution of high-end money laundering cases. However, despite an increase in staff, a lack of specialised investigative resources impacts the duration of investigations, especially in complex money laundering cases.

 

France's measures to combat money laundering and terrorist financing

France has a robust and sophisticated framework to fight money laundering and terrorist financing that is effective in many respects, notably in law enforcement, confiscation areas and international cooperation.
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Mutual Evaluation of France

Ratings

Technical Compliance

Ratings which reflect the extent to which a country has implemented the technical requirements of the FATF Recommendations.

France Mutual Evaluation - 2022

R.1 - Assessing risk & applying risk-based approach
LC
R.2 - National cooperation and coordination
C
R.3 - Money laundering offence
C
R.4 - Confiscation and provisional measures
C
R.5 - Terrorist financing offence
C
R.6 - Targeted financial sanctions related to terrorism & terrorist financing
LC
R.7 - Targeted financial sanctions related to proliferation
C
R.8 - Non-profit organisations
PC
R.9 - Financial institution secrecy laws
C
R.10 - Customer due diligence
LC
R.11 - Record keeping
C
R.12 - Politically exposed persons
PC
R.13 - Correspondent banking
PC
R.14 - Money or value transfer services
C
R.15 - New technologies
LC
R.16 - Wire transfers
LC
R.17 - Reliance on third parties
C
R.18 - Internal controls and foreign branches and subsidiaries
LC
R.19 - Higher-risk countries
LC
R.20 - Reporting of suspicious transactions
LC
R.21 - Tipping-off and confidentiality
C
R.22 - DNFBPs: Customer due diligence
LC
R.23 - DNFBPs: Other measures
LC
R.24 - Transparency and beneficial ownership of legal persons
LC
R.25 - Transparency and beneficial ownership of legal arrangements
LC
R.26 - Regulation and supervision of financial institutions
LC
R.27 - Powers of supervisors
C
R.28 - Regulation and supervision of DNFBPs
LC
R.29 - Financial intelligence units
LC
R.30 - Responsibilities of law enforcement and investigative authorities
C
R.31 - Powers of law enforcement and investigative authorities
C
R.32 - Cash couriers
LC
R.33 - Statistics
LC
R.34 - Guidance and feedback
C
R.35- Sanctions
C
R.36 - International instruments
C
R.37 - Mutual legal assistance
C
R.38 - Mutual legal assistance: freezing and confiscation
C
R.39 - Extradition
C
R.40 - Other forms of international cooperation
LC

C = compliant   |   LC = largely compliant     |   PC = partially compliant   |   NC = non-compliant

Effectiveness

Ratings that reflect the extent to which a country's measures are effective. The assessment is conducted on the basis of 11 immediate outcomes, which represent key goals that an effective AML/CFT system should achieve.

Ratings that reflect the extent to which a country's measures are effective. The assessment is conducted on the basis of 11 immediate outcomes, which represent key goals that an effective AML/CFT system should achieve.

France Mutual Evaluation - 2022

IO1
SE
IO2
HE
IO3
ME
IO4
ME
IO5
SE
IO6
SE
IO7
SE
IO8
HE
IO9
HE
IO10
SE
IO11
SE

HE = high level of effectiveness   |   SE = substantial level of effectiveness    |   ME = moderate level of effectiveness   |   LE = low level of effectiveness

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