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Mutual Evaluation Report of Samoa

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APG assessment of the anti-money laundering and counter-terrorist financing (AML/CFT) measures in Samoa. Ratings of the levels of technical compliance and effectiveness.

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Mutual Evaluation Report of Samoa

  1. 1. Anti-money laundering and counter-terrorist financing measures in Samoa – Mutual Evaluation Report – September 2015 1 Anti-money laundering and counter- terrorist financing (AML/CTF) measures in Samoa Mutual Evaluation Ratings September 2015 www.fatf-gafi.org/publications/mutualevaluations/documents/mer-samoa-2015.html
  2. 2. Anti-money laundering and counter-terrorist financing measures in Samoa – Mutual Evaluation Report – September 2015 Ratings – Effectiveness (1/3) 2 Extent to which Samoa has achieved this objective 1 ML and TF risks are understood and, where appropriate, actions co-ordinated domestically to combat ML and TF Moderate 2 International co-operation delivers appropriate information, financial intelligence, and evidence, and facilitates action against criminals and their assets Substantial 3 Supervisors appropriately supervise, monitor and regulate financial institutions and designated non-financial businesses and professions (DNFBPs) for compliance with AML/CFT requirements commensurate with their risks. Low 4 Financial institutions and DNFBPs adequately apply AML/CFT preventive measures commensurate with their risks, and report suspicious transactions. Moderate Immediate outcome of an effective system to combat money laundering (ML) and terrorist financing (TF)
  3. 3. Anti-money laundering and counter-terrorist financing measures in Samoa – Mutual Evaluation Report – September 2015 Ratings – Effectiveness (2/3) 3 Extent to which Samoa has achieved this objective 5 Legal persons and arrangements are prevented from misuse for money laundering or terrorist financing, and information on their beneficial ownership is available to competent authorities without impediments. Moderate 6 Financial intelligence and all other relevant information are appropriately used by competent authorities for money laundering and terrorist financing investigations. Low 7 Money laundering offences and activities are investigated and offenders are prosecuted and subject to effective, proportionate and dissuasive sanctions. Low 8 Proceeds and instrumentalities of crime are confiscated. Moderate Immediate outcome of an effective system to combat money laundering (ML) and terrorist financing (TF)
  4. 4. Anti-money laundering and counter-terrorist financing measures in Samoa – Mutual Evaluation Report – September 2015 Ratings – Effectiveness (3/3) 4 Extent to which Samoa has achieved this objective 9 Terrorist financing offences and activities are investigated and persons who finance terrorism are prosecuted and subject to effective, proportionate and dissuasive sanctions. Moderate 10 Terrorists, terrorist organisations and terrorist financiers are prevented from raising, moving and using funds, and from abusing the non-profit sector. Moderate 11 Persons and entities involved in the proliferation of weapons of mass destruction are prevented from raising, moving and using funds, consistent with the relevant United Nations Security Council Resolutions. Low Immediate outcome of an effective system to combat money laundering (ML) and terrorist financing (TF)
  5. 5. Anti-money laundering and counter-terrorist financing measures in Samoa – Mutual Evaluation Report – September 2015 Ratings – Effectiveness 5 0 1 6 4 High Substantial Moderate Low
  6. 6. Anti-money laundering and counter-terrorist financing measures in Samoa – Mutual Evaluation Report – September 2015 Ratings – technical compliance (1/5) 19-Oct-15 6 AML/CFT POLICIES AND COORDINATION 1. Assessing risks & applying a risk-based approach P P P P Partially compliant 2. National cooperation and coordination P P P P Partially compliant MONEY LAUNDERING AND CONFISCATION 3. Money laundering offence P P P P Partially compliant 4. Confiscation and provisional measures LaLaLaLa Largely compliant TERRORIST FINANCING AND FINANCING OF PROLIFERATION 5. Terrorist financing offence P P P P Partially compliant 6. Targeted financial sanctions related to terrorism & terrorist financing P P P P Partially compliant 7. Targeted financial sanctions related to proliferation NNNN Non compliant 8. Non-profit organisations P P P P Partially compliant
  7. 7. Anti-money laundering and counter-terrorist financing measures in Samoa – Mutual Evaluation Report – September 2015 Ratings – technical compliance (2/5) 19-Oct-15 7 PREVENTIVE MEASURES 9. Financial institution secrecy laws CCCC Compliant Customer due diligence and record keeping 10. Customer due diligence P P P P Partially compliant 11. Record keeping CCCC Compliant Additional measures for specific customers and activities 12. Politically exposed persons P P P P Partially compliant 13. Correspondent banking P P P P Partially compliant 14. Money or value transfer services CCCC Compliant 15. New technologies P P P P Partially compliant 16. Wire transfers P P P P Partially compliant
  8. 8. Anti-money laundering and counter-terrorist financing measures in Samoa – Mutual Evaluation Report – September 2015 Ratings – technical compliance (3/5) 19-Oct-15 8 PREVENTIVE MEASURES (continued) Reliance, Controls and Financial Groups 17. Reliance on third parties P P P P Partially compliant 18. Internal controls and foreign branches and subsidiaries LaLaLaLa Largely compliant 19. Higher-risk countries NNNN Non compliant Reporting of suspicious transactions 20. Reporting of suspicious transactions LaLaLaLa Largely compliant 21. Tipping-off and confidentiality CCCC Compliant Designated non-financial Businesses and Professions (DNFBPs) 22. DNFBPs: Customer due diligence P P P P Partially compliant 23. DNFBPs: Other measures P P P P Partially compliant
  9. 9. Anti-money laundering and counter-terrorist financing measures in Samoa – Mutual Evaluation Report – September 2015 Ratings – technical compliance (4/5) 19-Oct-15 9 24. Transparency and beneficial ownership of legal persons P P P P Partially compliant 25. Transparency and beneficial ownership of legal arrangements P P P P Partially compliant Regulation and Supervision 26. Regulation and supervision of financial institutions P P P P Partially compliant 27. Powers of supervisors P P P P Partially compliant 28. Regulation and supervision of DNFBPs P P P P Partially compliant Operational and Law Enforcement 29. Financial intelligence units LaLaLaLa Largely compliant 30. Responsibilities of law enforcement and investigative authorities CCCC Compliant 31. Powers of law enforcement and investigative authorities LaLaLaLa Largely compliant 32. Cash couriers LaLaLaLa Largely compliant TRANSPARENCY AND BENEFICIAL OWNERSHIP OF LEGAL PERSONS AND ARRANGEMENTS POWERS AND RESPONSIBILITIES OF COMPETENT AUTHORITIES AND OTHER INSTITUTIONAL MEASURES
  10. 10. Anti-money laundering and counter-terrorist financing measures in Samoa – Mutual Evaluation Report – September 2015 Ratings – technical compliance (5/5) 19-Oct-15 10 General Requirements 33. Statistics LaLaLaLa Largely compliant 34. Guidance and feedback P P P P Partially compliant Sanctions 35. Sanctions P P P P Partially compliant 36. International instruments P P P P Partially compliant 37. Mutual legal assistance LaLaLaLa Largely compliant 38. Mutual legal assistance: freezing and confiscation LaLaLaLa Largely compliant 39. Extradition LaLaLaLa Largely compliant 40. Other forms of international cooperation LaLaLaLa Largely compliant POWERS AND RESPONSIBILITIES OF COMPETENT AUTHORITIES AND OTHER INSTITUTIONAL MEASURES (continued) INTERNATIONAL COOPERATION
  11. 11. Anti-money laundering and counter-terrorist financing measures in Samoa – Mutual Evaluation Report – September 2015 Ratings – technical compliance 11 5 11 22 2 Compliant Largely compliant Partially compliant Non compliant

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