Palau

New Documents

The Council of the European Union announced its finding the Liechtenstein and Peru have met their commitments with respect to international tax cooperation. Also, Palau has been removed from the list of uncooperative tax jurisdictions.

The Asia/Pacific Group on Money Laundering published its mutual evaluation report on Palau’s anti-money laundering and counterterrorist financing regime.

News

Enforcement Actions

0 Items Found


Important Facts

  • The U.S. State Department labels Palau as a monitored jurisdiction. The country is not a regional or offshore financial center. The primary sources of illicit proceeds are illegal drugs and prostitution. Corruption in the government sector includes the misuse of government funds and cronyism, in part due to Palau's small size and extensive family networks. Palau is a low-risk jurisdiction for organized crime and terrorist financing.
  • KYC Covered Entities: Banks, credit unions, money remitters, casinos, real estate agents, dealers in precious metals, lawyers, and trust company providers
  • STR Covered Entities: Banks, credit unions, money remitters, and non-governmental organizations
  • Enhanced Due Diligence Procedures for PEPs: Foreign: No; Domestic: No
  • Money Laundering Criminal Prosecutions/Convictions: Prosecutions: 0 (2015); Convictions: 0 (2015)
Source: 2016 International Narcotics Control Strategy Report (INCSR)

Rankings

FATF i

Technical Effectiveness
Compliant : 5 High :
Largely Compliant : 15 Substantial : 1
Partially Compliant : 13 Moderate : 7
Non-Compliant : 7 Low : 3

BASEL i

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TRANSPARENCY INTERNATIONAL i

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Tax Justice Network i

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