2017 July: The Cook Islands remains committed to combating financial crime, money laundering, and financing of terrorism. This committment is evident in the Cook Islands implementing international regulatory standards which is positively assessed by international organizations such as the Global Forum and the Asia Pacific Group (a FATF regional body). In fact, a 2009 assessment by APG that looked at approximately 165 countries placed the Cook Islands in the top 20% of countries positively implementing international regulatory standards.
During the recent sitting of Parliament from June to July, the Cook Islands government has continued its commitment to international standards by further updating Cook Islands legislation concerning Mutual Assistance in Criminal Matters, Proceeds of Crime, Terrorism Suppression, Financial Transaction Reporting, and the Financial Intelligence Unit. The changes added by Parliament to the legislation already in place further ensures that our AML/CFT regulatory regime is effective and robust.