Samoa Samoa

New Documents

Central Bank of Samoa Highlights Onsite AML/CTF Inspections

The Central Bank of Samoa concluded onsite anti-money laundering and counterterrorist financing inspections of all commercial banks in Samoa.

December 8, 2021

Central Bank of Samoa Highlights Participation in UN Digital Finance Task Force

The Central Bank of Samoa issued a press release highlighting its participation in the United Nations Digital Finance Task Force, which recently published a report on ways to harness the digitization of finance to support a sustainable future.

September 11, 2020

Central Bank of Samoa Issues FAQ on CTRs

September 11, 2020

Central Bank of Samoa Launches Database System on Cash Transaction Reporting

December 30, 2019

Central Bank of Samoa Issues Statement Reacting to Samoa’s Listing on EU Blacklist

March 5, 2019

News

Weekly Roundup: FATF Softens Stance on Charities, Brooklyn Tackles $1 Billion Internet Gambling Ring, and More

Myanmar and Sudan have dropped to the worst-offenders category for human trafficking in an annual report by the State Department, the Real Estate Council of British Columbia will soon have its self-regulating powers revoked, and more, in this week’s roundup.

July 1, 2016

Enforcement Actions

0 Items Found

Key Documents

Samoa Requires Money Laundering Prevention Authority to Establish FIU

January 30, 2007

Samoa Criminalizes Terrorist Financing

March 28, 2002

Samoan Government Permits Confiscation of Property Related to Serious Offense

February 15, 2007

Samoan Government Requires Institutions to Retain, Maintain Customer Information

December 2, 2009

Important Facts

  • The U.S. State Department labels Samoa as a monitored jurisdiction. Samoa is not known to have major organized crime, fraud or drug problems. In fact, because the local economy and banking sector are small, Samoa has not become a haven for money laundering or terrorism financing. There is also no significant evidence of large scale public corruption or black market activity. The most common financial crimes within the country are low-level fraud and theft. There are four locally incorporated commercial banks that the Central Bank of Samoa supervises. There is one casino in operation, and one additional license the government has yet to allocate.
  • KYC Covered Entities: Banks, money remitters, casinos, real estate agents, lawyers, accountants, trust and company service providers, credit unions, foreign exchange dealers, dealers of precious metals and stones, and insurance companies
  • STR Covered Entities: Banks, casinos, real estate agents, lawyers, accountants, foreign exchange dealers, money remitters, credit unions, dealers of precious metals and stones, trust and company service providers, and insurance companies
  • Enhanced Due Diligence Procedures for PEPs: Foreign: Yes; Domestic: No
  • Money Laundering Criminal Prosecutions/Convictions: Prosecutions: 0 (2015); Convictions: 2 (2015)
Source: 2016 International Narcotics Control Strategy Report (INCSR)

Rankings

FATF i | 2013 Methodology

Technical Effectiveness
Compliant : 5 High : 0
Largely Compliant : 15 Substantial : 1
Partially Compliant : 18 Moderate : 6
Non-Compliant : 2 Low : 4

Samoa's technical compliance was re-rated in a Sept. 5, 2018 follow-up report

BASEL i

Rank : 64/141
Score : 5.27/10

TRANSPARENCY INTERNATIONAL i

Rank : 50/174
Score : 52/100

Tax Justice Network i

Rank : 86/133
Score : 75/100