Vanuatu's measures to combat money laundering and terrorist financing

APG-Mutual Evaluation of Vanuatu - 2015

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The Asia/Pacific Group on Money Laundering (APG) completed its assessment of Vanuatu's anti-money laundering and counter-terrorist financing (AML/CFT) system. The assessment is a comprehensive review of the effectiveness of Vanuatu's AML/CFT system and its level of compliance with the FATF Recommendations. 

The report was formally adopted by at the APG Annual Meeting in July 2015.  The findings of this assessment have also been reviewed and endorsed by the FATF. 

Overall, the preconditions for an effective AML/CFT system are not present in Vanuatu, including a consistent and informed understanding of money laundering and terrorist financing risk; high level political commitment; adequate financial and human resources and a formal and dedicated domestic cooperation/coordination structure. Vanuatu has increased its technical compliance with the FATF Recommendations since its 2006 assessment, but overall, compliance with the majority of the 40 Recommendations remains at non compliant or partially compliant level.  In terms of effectiveness,  Vanuatu has achieved only low levels of effectiveness. In most areas this is the result, among other factors, of an absence of policy and operational priorities and inadequate training and resources allocated to AML/CFT. 

Download the report: 

Full report  report including executive summary and ratings tables  

 

More information: 

Earlier reports or statements on Vanuatu's measures to combat money laundering and terrorist financing

FATF Recommendations

FATF Methodology for assessing technical compliance with the FATF Recommendations and the Effectiveness of AML/CFT systems

Asia/Pacific Group on Money Laundering (APG)

 

 

 

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