14 Oct 2002

Niue sees a boost as it is removed from an FATF blacklist

6:38 pm on 14 October 2002

The Government of Niue is hopeful that its removal from a Financial Action Task Force blacklist will boost business.

The FATF had blacklisted Niue along with several other Pacific nations in its campaign to combat money laundering.

But Premier Young Vivian says moves by Niue, including ending off shore banking, and setting out a programme outlining how it would ensure greater transparency, convinced the FATF to take Niue off the list.

"so we have made those programmes and we will be trying to put into action some of those things that are required by FATF"

Young Vivian says he expects that the FATF decision will mean more interest in establishing International Business Companies or IBCs in Niue.

He says the FATF will continue to monitor the islands activities.