APGML’s follow-up review of Nauru shows an improved supervisory framework, yet the Pacific island nation still faces gaps in beneficial-ownership transparency and risk-based supervision

Nauru’s sole re-rating upgrades Recommendation 29 to Compliant after the jurisdiction introduced a fully independent Financial Intelligence Unit with clear legal powers for analysis, dissemination and supervision, contributing to an overall tally of 38 Recommendations at Compliant or Largely Compliant. However, the report notes that two Recommendations remain Partially Compliant—relating mainly to transparency of legal persons and targeted financial sanctions—highlighting ongoing shortcomings in beneficial-ownership access, sanctions implementation and the broader application of risk-based supervisory measures.