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| the head of PALP, Kosi Latu. |
by Dionisia Tabureguci
PACIFIC island countries have, at their disposal, a number of donor agencies and institutions that assist them in the establishment or enhancement of their anti – money laundering (AML) and counter terrorist financing (CTF) legislations. One such effort is the Pacific Anti Money Laundering Project (PALP), a combined effort between the Pacific Islands Forum Secretariat (PIFS) and the United States State Department.
Islands Business Magazine spoke to Kosi Latu, head of the PIFS-based PALP who spoke about the progress and other aspects of the project.
When was PALP set up and what is its function?
Latu: The Pacific Anti money Laundering Project, or PALP, the acronym that it goes by, is still a very new set-up. It has been going for about 7 months since September last year and is a joint initiative between the Pacific Islands Forum, the United Nations Office on Drugs and Crime (UNODC) and the US State Department. The PALP is to run for a period of four years and is funded by the US State Department. PALP is a regional technical assistance and training programme designed to assist Forum countries in establishing and/or enhancing their anti-money laundering (AML) and counter terrorism financing (CTF) regimes to comply with international standards of the Financial Action Task Force (FATF), and relevant UN Conventions and Security Council Resolutions.
