Regulatory Alerts2007-01-01
Money Laundering Prevention Act 2007
The Legislative Assembly of Samoa enacted this Act to establish a comprehensive framework for preventing money laundering and the financing of terrorism. The legislation creates the Money Laundering Prevention Authority and the Financial Intelligence Unit to supervise financial institutions, mandate customer identification and record-keeping, and process suspicious transaction reports. It further empowers authorities to freeze assets, seize cash, and share information with foreign agencies while overriding standard secrecy obligations to ensure effective enforcement.
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