Mutual Evaluation Report 2018
The Cook Islands received a very positive Mutual Evaluation Report for their 2017/2018 mutual evaluation by the Asia Pacific Group on Money Laundering (APG) which was published on 22 October 2018. The Commission was the lead agency for the Cook Islands mutual evaluation.
The Cook Islands has been rated one of the best in the world for technical compliance with 38 out of the 40 FATF Recommendations receiving Largely Compliant or Compliant. In terms of the implementation and effectiveness of its laws and systems when measured against the FATF’s 11 Immediate Outcomes, the Cook Islands attained 5 substantial ratings, 4 moderate ratings and 2 low ratings. This resulted in the Cook Islands being one of only three jurisdictions within the APG membership to be placed in the “regular” follow up process, a very rare achievement.
This outstanding result for the Cook Islands has been achieved through the commitment and hard work of the Cook Islands government, its crown agencies and the private sector. It is anticipated that the Cook Islands’ MER will be recognised internationally, given its independence and comprehensive nature, whilst giving great comfort to governments, institutions and businesses alike when dealing with the Cook Islands and its financial services industry. The published Mutual Evaluation Report can be read and downloaded here.
National Risk Assessment Report
The Board and Management are pleased to publish the National Risk Assessment Report 2015 on money laundering, terrorism financing and serious offences in the Cook Islands, adopted by Cabinet on 10 March 2015.
APG News update
APG delegation visit to Vanuatu, 25 January 2013
Click link for article http://www.apgml.org/about/newsDetail.aspx?newsID=196
The Association of Pacific Islands FIUs (APIFIU) is a newly formed association of FIUs of the Pacific Island regions. The Cook Islands FIU form part of a membership of 11 other Pacific Islands jurisdiction. The organisations main objective is for intelligence sharing network and awareness training to combat money laundering, the financing of terrorism and other serious offences. The APIFIU have a dedicated webpage attached to the Fiji FIU website.
Follow APIFIU at http://www.fijifiu.gov.fj/apifiu.aspx