been an increase in the number of operators of dubious financial background who move from country to country taking advantage of gullible governments and private individuals and entities. their intention is to defraud governments and people by convincing them to accept and / or invest in get - rich - quick projects that are later proven to be just pure scams. i should mention that we have come across a wide range of scams in the past, some of which have been repeated in several countries by different or most probably, the same operators. in the event, sharing of information about such experiences would benefit us all in our efforts to protect our financial system, not to mention our people, from such abuses. the features of scams touted around the pacific are mostly similar, except a few cosmetic variations in some cases. usually, substantial benefits are promised by the get - rich - quick operators in return for payments made by the victims or some contingent liabilities accepted by governments and private individuals up front. let me state some examples for your reference : i. letters of guarantee ii. a loan for indigenous development iii. a loan to a private company iv. sale of passports v. the nigerian scam vi. lottery winnings ( the last two on the list have come up quite often through the internet and email messages. ) capacity building let me end with a word on capacity building. we can have the best laws to combat money laundering, the best system to prosecute the offenders but if we lack the human capacity to implement them, then our efforts will be in vain. hence, building local capacity must therefore be at the forefront of our efforts. the same concern applies to npos. that is, building capacities within the structures of our npos to be able to identify suspicious transactions and reporting them to the money laundering prevention authority ( mlpa ) is an important feature of samoa ’ s anti - money laundering and countering terrorist financing activities regime. i understand that the mcil may need to incorporate in its existing legislation some requirements for npos to comply with anti - money laundering measures and requirements. some key requirements would include proper customer identification. that is, the npos must have a good understanding of who their customers are and their sources of funds as well as the purpose of conducting financial transactions through or with them. another important requirement relate to the proper keeping of books and records that would assist any investigation that may involve information or records of npos. conclusion in concluding, i should reiterate that it is

maiava atalina ainuu enari : educating children about money matters opening remarks by ms maiava atalina ainuu enari, governor of the central bank of samoa, at the awards ceremony of the “ be money wi $ e ” financial literacy poster competition 2014, apia, 14 march 2014. * * * greetings and welcome to you all, dear parents, school principals and most importantly the winning students of the 2014 be money wi $ e poster competition. as i look across the room to the students, parents and principals / school reps,... without a doubt this is a happy friday for you all. it gives me great pleasure to say that, this is also a happy friday for us at the central bank – we are as much excited to reveal the winning poster entries as you are to be here today to receive your awards!! talofa! talofa lava ; i am delighted to be here today, at the conclusion of an important initiative for the central bank, to address this gathering and most especially the winners of – our first be money wise financial literacy poster competition. this competition is one of many programs undertaken by the central bank to perform one of its mandates of promoting financial literacy under the “ financial fitness ” or “ fit for finance ” campaign. the “ be money wi $ e poster competition 2014 ” was also conducted in collaboration with the global money week which is coordinated by child & youth finance international. global money week takes place on the 10 – 17 march and is a worldwide celebration through events and activities to help empower children and youth to be confident and responsible economic citizens. during this week, children are encouraged to engage in learning on how money works, including saving, creating livelihoods, gaining employment and entrepreneurship as well as living financially smart lives. and so for samoa ’ s contribution to the event, the central bank decided to conduct a financial literacy poster competition to encourage kids to use their imaginations and knowledge about money choices, and help provide a creative outlet to demonstrate their knowledge. for this year ’ s poster competition theme “ i can grow my money by... ” myself and mrs vicseta meredith of business system limited had the pleasure and the hard task of judging the entries. we were very impressed with the quality of entries that were presented to us – so it pains us that there are only a limited number of awards we can give out for the competition. “ financial literacy ” or “ the set of skills and knowledge that