Samoa Country Summary

FATF Status

Samoa is not on the FATF List of Countries that have been identified as having strategic AML deficiencies

Compliance with FATF Recommendations

The last follow-up Mutual Evaluation Report relating to the implementation of anti-money laundering and counter-terrorist financing standards in Samoa was undertaken in 2023. According to that Evaluation, Samoa was deemed Compliant for 6 and Largely Compliant for 15 of the FATF 40 Recommendations. It was also deemed Highly Effective for 0 and Substantially Effective for 1 with regard to the 11 areas of Effectiveness of its AML/CFT Regime.

Corruption in Samoa is characterized by occasional credible allegations and prosecutions, particularly in government procurement, but it is not seen as a significant barrier to foreign investment. The government is developing its first national Anti-Corruption Policy with international assistance, while human trafficking and drug-related crimes are emerging concerns. Despite a generally stable political environment, issues such as financial crimes and limited support for organized crime victims highlight ongoing challenges in governance and social protection.

Samoa's economy has rebounded strongly in 2023, with a real GDP growth of eight percent and nominal GDP exceeding USD 1 billion for the first time, largely driven by a recovering tourism sector. Despite this growth, the economy remains reliant on remittances and official development assistance, and it lacks diversification, having suffered a significant recession during the COVID-19 pandemic.

Samoa's investment climate is generally welcoming to foreign direct investment (FDI), particularly in sectors that create local employment, such as tourism and agriculture. The government has committed to streamlining procedures to attract FDI, although barriers remain, including restrictions on certain business activities reserved for Samoan citizens. Additionally, the requirement for foreign investors to obtain a Foreign Investment Certificate and the complexities surrounding land ownership, particularly customary land, pose challenges for potential investors.