Money Laundering Probe Unfolds in Samoa: The Central Bank’s Role in Combating Financial Crimes

The Central Bank of Samoa and the AML/FIU’s Role in Money Laundering Investigation

The Anti-Money Laundering and Financial Intelligence Unit (AML/FIU) of the Central Bank of Samoa is currently involved in an ongoing money laundering investigation. As the body charged with implementing and enforcing anti-money laundering regulations in Samoa, the AML/FIU plays a crucial role in protecting the country’s financial system against illicit activities.

• AML/FIU is the designated unit responsible for combating money laundering and terrorist financing under the Money Laundering Prevention Act.
• The Central Bank of Samoa Governor serves as the Money Laundering Prevention Authority, overseeing the implementation and regulation of the Act.

The Money Laundering Prevention Task Force

The Governor has established the Money Laundering Prevention Task Force in response to money laundering and terrorist financing threats. The advisory body, comprised of various government agencies and departments, is chaired by the Governor.

Task Force’s Role and Objectives

• The Task Force fosters communication between different entities to address money laundering and terrorism financing concerns effectively.
• The primary objectives of the Task Force include offering guidance to the AML/FIU in tackling financial crimes and maintaining close cooperation and liaison between stakeholders.

The Central Bank’s Commitment to Combating Financial Crimes

The Central Bank of Samoa’s commitment to preventing financial crimes in Samoa is evident through the ongoing investigation by the AML/FIU.

• The AML/FIU operates under the Central Bank of Samoa’s ambit, ensuring Samoa maintains a robust and stable financial system.
• Further information on the investigation’s progress and findings will be shared as they become available.