Key Documents

June 1, 2004

June 1, 2004

November 12, 2007

May 7, 2003

September 10, 2003

May 7, 2003

September 10, 2003

April 9, 2003

Important Facts

The U.S. State Department identifies the Cook Islands as a jurisdiction of concern. The Cook Islands is not a regional financial center, but the Cook Islands' substantial offshore financial sector is an important part of the country's economy and represents its most significant vulnerability to money laundering and terrorist financing activities. The government has taken steps to reduce the risks stemming from the offshore sector and its small domestic financial sector. All offshore business conducted from the Cook Islands must be channeled through registered trustee companies. Currently there are four international banks, one of which also has an international license. By the end of 2014, there were 2,602 international trusts, 1,079 international companies, and 394 limited liability companies, according to the country's Financial Supervisory Commission.
KYC Covered Entities: Banks (domestic and offshore) and offshore insurers and trustee companies
STR Covered Entities: Banks (domestic and offshore) and offshore insurers and trustee companies
Enhanced Due Diligence Procedures for PEPs: Foreign: Yes; Domestic: No
Money Laundering Criminal Prosecutions/Convictions: Prosecutions: N/A; Convictions: N/A

Source: 2016 International Narcotics Control Strategy Report (INCSR)

Rank : 3/110

Score : 3.13/10

Rank : 91/92

Score : 76/100

Rank : 133/133

Score : 70/100