Cook Islands Country Summary
Sanctions
No
FATF AML Deficient List
No
Terrorism
Corruption
US State ML Assessment
Criminal Markets (GI Index)
EU Tax Blacklist
Offshore Finance Center
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
Bribery & Corruption
| Rating | 0 (bad) - 100 (good) |
|---|---|
| Transparency International Corruption Index | NA |
| World Bank: Control of Corruption Percentile Rank | NA |
Economy
The Cook Islands has a tourism-based economy that contributes approximately 67.5% to its GDP, with additional support from foreign aid, primarily from New Zealand. The economy is diversifying into agriculture, mining, and fishing, although it faces challenges such as geographical isolation and inadequate infrastructure.
The investment climate in the Cook Islands is favorable for foreign investors, particularly in the trust sector, due to its self-governing status and a stable legal framework that often disregards foreign court orders. The country has established policies to encourage foreign investment, facilitating economic growth and diversification, while also maintaining a strong focus on its tourism-based economy.
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- Risk Analysis
- Corruption
- Economy
- Sanctions
- Narcotics
- Executive Summaries
- Investment Climates
- FATF Status
- Compliance
- Key Findings
