Solomon Islands' measures to combat money laundering and terrorist financing

Publication details

Language

English

Country

Solomon Islands

Solomon Islands MER 2019

This report provides a summary of the AML/CFT measures in place in Indonesia as at the date of the on-site visit from 22 October to 2 November 2018. It analyses the level of compliance with the FATF 40 Recommendations and the level of effectiveness of the AML/CFT system and provides recommendations on how the system could be strengthened.

The findings of this assessment have been reviewed and endorsed by the FATF.

Please refer to the Executive Summary of the report for the Key Findings and Priority Actions.

APG Mutual Evaluation Report of Solomon Islands - October 2019

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APG -Mutual-Evaluation-Report-Solomon-Islands - October 2019.pdf
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1 MB
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application/pdf
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Technical Compliance

Ratings which reflect the extent to which a country has implemented the technical requirements of the FATF Recommendations.

Solomon Islands Mutual Evaluation 2019

R.1 - Assessing risk & applying risk-based approach
PC
R.2 - National cooperation and coordination
PC
R.3 - Money laundering offence
LC
R.4 - Confiscation and provisional measures
LC
R.5 - Terrorist financing offence
LC
R.6 - Targeted financial sanctions related to terrorism & terrorist financing
NC
R.7 - Targeted financial sanctions related to proliferation
NC
R.8 - Non-profit organisations
NC
R.9 - Financial institution secrecy laws
C
R.10 - Customer due diligence
NC
R.11 - Record keeping
PC
R.12 - Politically exposed persons
PC
R.13 - Correspondent banking
NC
R.14 - Money or value transfer services
PC
R.15 - New technologies
NC
R.16 - Wire transfers
NC
R.17 - Reliance on third parties
PC
R.18 - Internal controls and foreign branches and subsidiaries
NC
R.19 - Higher-risk countries
NC
R.20 - Reporting of suspicious transactions
C
R.21 - Tipping-off and confidentiality
C
R.22 - DNFBPs: Customer due diligence
NC
R.23 - DNFBPs: Other measures
PC
R.24 - Transparency and beneficial ownership of legal persons
PC
R.25 - Transparency and beneficial ownership of legal arrangements
NC
R.26 - Regulation and supervision of financial institutions
PC
R.27 - Powers of supervisors
LC
R.28 - Regulation and supervision of DNFBPs
PC
R.29 - Financial intelligence units
LC
R.30 - Responsibilities of law enforcement and investigative authorities
C
R.31 - Powers of law enforcement and investigative authorities
LC
R.32 - Cash couriers
LC
R.33 - Statistics
PC
R.34 - Guidance and feedback
PC
R.35- Sanctions
PC
R.36 - International instruments
PC
R.37 - Mutual legal assistance
PC
R.38 - Mutual legal assistance: freezing and confiscation
PC
R.39 - Extradition
LC
R.40 - Other forms of international cooperation
PC

C = compliant   |   LC = largely compliant     |   PC = partially compliant   |   NC = non-compliant

Effectiveness

Ratings that reflect the extent to which a country's measures are effective. The assessment is conducted on the basis of 11 immediate outcomes, which represent key goals that an effective AML/CFT system should achieve.

Ratings that reflect the extent to which a country's measures are effective. The assessment is conducted on the basis of 11 immediate outcomes, which represent key goals that an effective AML/CFT system should achieve.

Solomon Islands Mutual Evaluation 2019

IO1
ME
IO2
ME
IO3
LE
IO4
LE
IO5
LE
IO6
ME
IO7
LE
IO8
LE
IO9
LE
IO10
LE
IO11
LE

HE = high level of effectiveness   |   SE = substantial level of effectiveness    |   ME = moderate level of effectiveness   |   LE = low level of effectiveness

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