Palau regulates AML/CTF through its Financial Intelligence Unit under the Money Laundering and Proceeds of Crime Act (MLPCA) 2001. See the obligations and how MemberCheck supports them.
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Palau regulates money laundering and terrorist financing through the Money Laundering and Proceeds of Crime Act (MLPCA) 2001, supported by its Financial Intelligence Unit, which both receives suspicious transaction reports and supervises reporting entities, alongside the Financial Institutions Commission for licensed financial institutions.
Regulated entities must apply customer due diligence, identify beneficial owners, monitor relationships, and report suspicious activity to the FIU, alongside supervision from the Financial Institutions Commission. Supervisors expect a designated compliance officer, sound internal controls, and staff training.
MemberCheck helps teams meet these obligations by screening customers and entities against global sanctions, PEP, and adverse-media data, verifying identities, and monitoring risk continuously, with a clear audit trail behind every decision.
An independent agency since 2014, having previously sat within the Financial Institutions Commission. It receives and analyses suspicious transaction reports and also supervises financial institutions and designated non-financial businesses and professions, including lawyers, high value dealers, and real estate agents, for compliance with the MLPCA.
Palau's principal AML statute, setting customer due diligence, recordkeeping, and reporting obligations for financial institutions and other reporting entities.
The Commission supervises banks and other licensed financial institutions for AML/CTF compliance, working alongside the FIU.
Palau is a member of the Asia/Pacific Group on Money Laundering, a FATF-style regional body, and aligns its regime with the FATF 40 Recommendations through that membership.
Two bodies share the role. The Palau Financial Intelligence Unit, an independent agency since 2014, both receives suspicious transaction reports and supervises financial institutions and designated non-financial businesses and professions for compliance with the MLPCA. The Financial Institutions Commission examines the AML/CTF procedures of the banks and other financial institutions it licenses under the Financial Institutions Act.
The Money Laundering and Proceeds of Crime Act (MLPCA) 2001 sets the customer due diligence, recordkeeping, and reporting obligations for regulated entities in Palau.
Palau is a member of the Asia/Pacific Group on Money Laundering (APG), a FATF-style regional body, and aligns its AML/CTF regime with the FATF 40 Recommendations through that membership.
MemberCheck screens customers and entities against global sanctions, PEP, and adverse-media data, verifies identities, and monitors risk continuously, with an audit trail behind every decision.
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