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EUROPE
San Marino
2 domains mapped · Code: SM
These are jurisdiction-specific research-progress records. They expose first moves, likely actors, and institutional infrastructure where mapped; they are not a claim that every country has a finished statutory memo for all 61 domains.
NON-UNITED STATES TRANSLATION RULE
For countries with fewer than 10 mapped domains, use the United States 61-domain map as the reference corpus, then translate only domains with locally verified regulators, authority hooks, statutes, or dockets.
San Marino is a European microstate with a GDP of roughly $2 billion (2023, World Bank), built on banking and finance, tourism, ceramics and light manufacturing, and the sale of postage stamps and coins. Its dominant market-failure domains are offshore finance and banking secrecy — San Marino was on EU and OECD grey/blacklists for opacity before a 2009-2014 cleanup — and gambling, which is tied to its tourism economy. The shared-system cost runs through cross-border tax leakage and financial-integrity risk rather than physical resource extraction.
DOMAINS (2)
Tax Havens / Offshore Finance (banking secrecy, cross-border deposits)
βW = 1
Canonical domain beta-W
Canonical domain beta-W from Tax Havens and Offshore Finance. Local route severity is a country-route triage value and is not used in the aggregate portfolio.
Axiom 1
Axiom 2
Axiom 3
PRIMARY ROUTE:San Marino's offshore-deposit and secrecy footprint is small, externally observable, and already partly dismantled — it signed tax-information-exchange agreements and an EU monetary/financial cooperation framework, making the welfare leakage (foreign tax revenue lost to Sammarinese accounts) computable from bilateral exchange data. Because the harm flows entirely through institutional secrecy rather than any physical constraint, a treaty rule change can close it.
4 actor-lane actions mapped
GAME-CHANGE ROUTES
A1Full adoption and enforcement of OECD Common Reporting Standard (CRS) automatic exchange of financial-account information, eliminating the residual secrecy premium
A2Implement and audit the EU-San Marino Monetary Agreement and the 2010s tax-transparency commitments through the Central Bank of San Marino's supervisory arm
A3Adopt OECD/G20 BEPS beneficial-ownership registry standards and publish ultimate-beneficial-owner data
ACTOR-LANE ACTIONS
Insider / Whistleblower
insider
Bank compliance officers file suspicious-transaction reports on non-resident shell accounts
Agenzia di Informazione Finanziaria (AIF, San Marino's Financial Intelligence Agency); Central Bank of the Republic of San Marino (Banca Centrale della Repubblica di San Marino)
Investor / Capital Allocator
investor
Correspondent banks condition relationships on CRS and FATF compliance
Italian and EU correspondent banks; Central Bank of San Marino supervisory department
Regulator / Agency
regulator
Central Bank of San Marino enforces AML and beneficial-ownership rules on licensed banks
Central Bank of the Republic of San Marino; Agenzia di Informazione Finanziaria (AIF)
Policymakers / Treaty Forum
supranational
OECD Global Forum peer-reviews San Marino's CRS implementation
OECD Global Forum on Transparency and Exchange of Information; MONEYVAL (Council of Europe); European Union (EU-San Marino Monetary Agreement)
Gambling (tourism-linked gaming and casino operations)
βW = 4.56
Canonical domain beta-W
Canonical domain beta-W from Gambling. Local route severity is a country-route triage value and is not used in the aggregate portfolio.
Axiom 1
Axiom 2
Axiom 3
PRIMARY ROUTE:San Marino's gaming sector is a small, licensed, tourism-facing industry whose social cost — problem-gambling harm and money-laundering exposure through gaming flows — is measurable from licensing and transaction data held by national supervisors. Because the activity exists only under state license, the rules can be tightened directly without any physical barrier.
4 actor-lane actions mapped
GAME-CHANGE ROUTES
A1Mandatory anti-money-laundering monitoring of gaming flows under AIF supervision with player-identification requirements
A2Statutory player-protection limits (deposit caps, self-exclusion registry) enforced by the gaming authority
A3Align licensing with EU and MONEYVAL AML standards for the gaming sector
ACTOR-LANE ACTIONS
Insider / Whistleblower
insider
Gaming-operator compliance staff report structured or suspicious cash flows
Agenzia di Informazione Finanziaria (AIF); San Marino gaming licensing authority under the relevant Secretariat of State
Investor / Capital Allocator
investor
Operators and payment providers require AML certification before processing gaming flows
Licensed Sammarinese banks supervised by the Central Bank of San Marino
Regulator / Agency
regulator
National gaming authority sets and enforces licensing and player-protection conditions
San Marino gaming regulator under the Secretariat of State for Finance and Budget; Agenzia di Informazione Finanziaria (AIF)
Policymakers / Treaty Forum
supranational
MONEYVAL assesses gaming-sector AML/CFT controls in its country evaluation
MONEYVAL (Council of Europe); European Union
REFORM PATHFINDER
Actor-lane actions and institutional infrastructure for San Marino
POLICY LAB
Country-specific policy options for the mapped domains in San Marino; full 61-domain coverage is the program table, not a claim about this route.
© 2026 Erik Postnieks · Independent Researcher · Salt Lake City