Cook Islands Country Summary
Sanctions
Lower Concern
FATF AML Deficient List
Lower Concern
Terrorism
Medium Concern
Corruption
Medium Concern
US State ML Assessment
Medium Concern
Criminal Markets (GI Index)
Lower Concern
EU Tax Blacklist
Lower Concern
Offshore Finance Center
Higher Concern
Please note that although the below Summary will give a general outline of the AML risks associated with the jurisdiction, if you are a Regulated entity then you may need to demonstrate that your Jurisdictional AML risk assessment has included a full assessment of the risk elements that have been identified as underpinning overall Country AML risk. To satisfy these requirements, we would recommend that you use our Subscription area.
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Anti Money Laundering
FATF Status
The Cook Islands is not on the FATF List of Countries that have been identified as having strategic AML deficiencies
Compliance with FATF Recommendations
The last Mutual Evaluation follow-up Report relating to the implementation of anti-money laundering and counter-terrorist financing standards in Cook Islands was undertaken in 2018. According to that Evaluation, Cook Islands was deemed Compliant for 5 and Largely Compliant for 33 of the FATF 40 Recommendations. It was deemed Highly Effective for 0 and Substantially Effective for 5 of the Effectiveness & Technical Compliance ratings.
Sanctions
There are no international sanctions currently in force against this country
Criminality
Rating |
0 (bad) - 100 (good) |
|---|---|
| Transparency International Corruption Index | NA |
| World Bank: Control of Corruption Percentile Rank | NA |
Economy
The economy of the Cook Islands is predominantly driven by tourism, which constitutes about 67.5% of its GDP, alongside other sectors such as fishing, agriculture, and offshore banking. The country faces challenges due to its geographic isolation and limited natural resources, but has shown resilience and is making efforts to diversify its economy.
The investment climate in the Cook Islands is favorable due to a legal framework that protects asset trusts, attracting foreign investors looking to secure their assets. The country has developed a reputation as a 'debtor paradise', allowing individuals to shield property from creditors. Recent increases in foreign investment, particularly in tourism and agriculture, reflect the government's commitment to promoting a stable and secure environment for investors.
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- Risk Analysis
- Corruption
- Economy
- Sanctions
- Narcotics
- Executive Summaries
- Investment Climates
- FATF Status
- Compliance
- Key Findings