The Pacific region was settled thousands of years ago, predominantly by Melanesian people in Papua New Guinea, Solomon Islands, and Vanuatu; Micronesians in Kiribati; both Melanesians and Micronesians in Fiji; and Polynesians in Tonga and Western Samoa. Most of the inhabitants resided in closely knit coastal communities, which were governed by powerful local chiefs. Fertile soil, except on coral atolls, and plentiful fish enabled living standards to be kept above subsistence levels in these economies. An ample diet, in terms of calories and protein, and a generally equable climate contributed to relatively long life expectancy. Explorers from Spain and Portugal in the sixteenth century, from the Netherlands in the seventeenth century, and from the United Kingdom in the eighteenth century were primarily interested in trade in precious metals and spices. Except for the spread of diseases, against which local inhabitants lacked immunity, the life of the region was unaffected by these contacts.
1.1. Countries recognize that strong regional and international cooperation on cross-border transactions, including the implementation of best practices concerning information sharing in criminal matters, are needed if they are to be successful in combating money laundering (ML) and the financing of terrorism (FT).
1.1. The Commonwealth of The Bahamas is a sovereign nation, with a population of just over 300,000, lying southeast of the United States. There are some 30 inhabited islands out of a total of around 700. The two most populated are New Providence (with the capital, Nassau) and Grand Bahama.
1.1. This chapter discusses the role of formal cooperation agreements in facilitating international regulatory cooperation. It does so drawing on the experience of the Australian Prudential Regulation Authority (APR A).