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National Cooperation and Coordination: Samoa’s Progress

In a recent assessment, Samoa has made significant strides in improving national cooperation and coordination in the fight against money laundering and terrorist financing (AML/CFT). While there are still areas for improvement, Samoa has taken important steps towards strengthening its AML/CFT regime.

Development of National Strategy

Samoa has developed and implemented an AML/CFT National Strategy 2016-2020, which sets out high-risk sectors and planned actions to mitigate these risks. The strategy is informed by risk assessment and provides a framework for coordinating national efforts.

National Policy and Coordination Structure

The Money Laundering Prevention Authority (MLPA) is responsible for coordinating national AML/CFT policies, while the MLP Task Force serves as an advisory body to strengthen cooperation among competent authorities. Quarterly meetings of the task force provide a platform for agencies to share information and discuss national policy.

Gaps in Statutory Role

While Samoa has made progress in developing its AML/CFT regime, there are still gaps in the statutory role of the MLPA. The authority’s primary responsibility is limited to supervising financial institutions, which may not fully leverage its potential in coordinating national efforts.

International Cooperation

Samoa has acceded to several international instruments, including the Vienna Convention and the Financing of Terrorism Convention. While it has implemented many provisions, there are still gaps in implementing the Palermo and Merida Conventions.

Conclusion

Samoa’s rating for national cooperation and coordination is “LC” (Low Compliance), due to deficiencies in the statutory role of the MLPA. However, the country has made significant progress in developing its AML/CFT regime and international cooperation.

Recommendations

• Enhance the statutory role of the MLPA to ensure effective coordination of national efforts.
• Strengthen information sharing among agencies and increase collaboration on high-risk sectors.
• Implement the Palermo and Merida Conventions to ensure full compliance with international standards.