Financial Crime World

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Regulatory Requirements for Financial Institutions in Cook Islands Take Center Stage

The Cook Islands Government has prioritized compliance with international standards to combat money laundering, tax evasion, and financial crimes. The country’s regulatory framework is designed to meet global requirements, ensuring transparency and accountability in the financial sector.

Strengthening International Cooperation

The Cook Islands has enacted laws and regulations aligned with international standards, including:

  • Integration of FATCA and CRS for automatic financial information sharing
  • Bolstered Anti-Money Laundering/Countering the Financing of Terrorism (AML/CFT) regime
  • Compliance with FATF recommendations through the Financial Transactions Reporting Act 2017

Cooperative Approach to Taxation

The country has joined the OECD’s Inclusive Framework on Base Erosion and Profit Shifting (BEPS) and eliminated preferential tax regimes, earning recognition as a cooperative tax jurisdiction.

Confidentiality and Data Protection

The Cook Islands ensures personal information remains protected while balancing international obligations with confidentiality for legitimate businesses. The country maintains:

  • No public registers for beneficial ownership
  • Investigative powers to deter fishing expeditions
  • Strict adherence to legal provisions to protect privacy

Enhanced Credibility and Appeal

This approach has enhanced the Cook Islands’ credibility globally, reassuring governments, institutions, businesses, and individuals. It strengthens the jurisdiction’s appeal for international trade and financial transactions, promoting transparency and compliance while preserving privacy.

Contact Information

For more information on the regulatory requirements for financial institutions in the Cook Islands, please contact:

  • P.O. Box 3255
  • Clarkes Building, Parekura
  • Rarotonga, COOK ISLANDS
  • Email: enquiry@fsda.gov.ck
  • Phone: +682 21-175

Office Hours

Monday to Friday: 8am - 4pm Saturday and Sunday: Closed