Samoa’s Attractiveness to Organized Crime Groups Raises Concerns

Vulnerability to International Organized Crime Groups (IOCGs)

A recent report has highlighted Samoa’s vulnerability to international organized crime groups, which are attracted by the country’s geographic location, stable economy, and low levels of violent and petty crime. These criminal organizations use Samoa as a transit point to move goods and money, often through illegal activities such as drug trafficking and money laundering.

Attractiveness Factors

• Advanced banking system
• Reputation as a secrecy haven
• Low levels of violent and petty crime

Need for Strengthened Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) Systems

To combat this issue, Samoan authorities have recognized the need to strengthen their AML/CFT systems. This includes improving intelligence gathering and sharing, as well as implementing measures to reduce Samoa’s attractiveness to IOCGs.

Current Challenges

• Lack of comprehensive risk-based approach to AML/CFT
• Limited legal framework to support targeted financial sanctions related to terrorism and weapons proliferation financing

Action Items

• Commence engagement with international partners to better understand the nature and extent of IOCGs operating in Samoa
• Formulate steps to reduce Samoa’s attractiveness to IOCGs
• Undertake a risk-based approach to allocating resources and implementing measures to prevent or mitigate AML/CFT
• Improve monitoring of AML/CFT compliance and ensure that financial institutions and designated non-financial businesses and professions assess risk and implement measures for risk mitigation

Conclusion

Strengthening Samoa’s legal framework is crucial in preventing the country from being used as a transit point for illegal activities. By improving its AML/CFT systems and legislation, Samoa can reduce its attractiveness to IOCGs and protect its reputation as a stable and secure nation.