The Ministry of Finance and Economic Development welcomes the outcome of the Asia/Pacific Group on Money Laundering (APG) Annual Meeting and Plenary recently, where member jurisdictions endorsed a tailored approach to Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) mutual evaluations for microstates.

The decision reflects growing recognition that the smallest jurisdictions face unique capacity and resource constraints in implementing the standard mutual evaluation process. Under the proposed approach, eligible microstates would be subject to a proportionate, risk-based assessment that better reflects their size, institutional capacity, and risk profile while maintaining adherence to international AML/CFT standards.

Secretary of Finance Mr Nuausala Nuausala welcomed the support shown by APG members and the international community, stating: 

“Tuvalu extends its sincere gratitude to member jurisdictions and the FATF for supporting a light-touch Mutual Evaluation that appropriately accounts for the unique circumstances of micro-states.  We welcome this pragmatic approach and reassure all members of our ongoing commitment to collaborate with key partners and the APG Secretariat. Together, we will continue to strengthen our AML/CFT framework while effectively addressing both current and emerging risks. 

The outcome represents an important milestone for Pacific microstates and member jurisdictions that have consistently advocated for a more proportionate application of international AML/CFT assessment processes. It acknowledges that while all jurisdictions remain committed to combating money laundering, terrorist financing, and proliferation financing, the assessment
methodology should appropriately consider differences in size, complexity, capacity, and risk.

Tuvalu remains firmly committed to implementing international AML/CFT standards and strengthening its legislative, regulatory, and institutional frameworks. The Government looks forward to continuing its close collaboration with the APG Secretariat, the Financial Action Task Force, regional partners, and development partners to ensure that its AML/CFT regime remains effective, sustainable, and responsive to evolving risks.