71. Is it specified that a particular institution(s) is responsible for investigating money laundering that relates to political parties, candidates and elected officials?

(a) A Financial Intelligence Unit ("FIU") shall be created within the Office of the Attorney General or the Financial Institutions Commission by Executive Order of the President. Other agencies of the government may be assigned to assist the Financial Intelligence Unit by the President at the request of the Financial Intelligence Unit. The Financial Intelligence Unit, in consultation with the President of the Republic of Palau, may promulgate regulations pertaining to the duties and functions of the Financial Intelligence Unit pursuant to the Administrative Procedure Act, 6 PNC Chapter 1.

(b) The Financial Intelligence Unit members shall be required to keep confidential any information obtained within the scope of their duties, even after cessation of those duties with the Financial Intelligence Unit. Such information may not be used for any purposes other than those provided for by this chapter.

(c) The Financial Intelligence Unit members may not concurrently hold or pursue any elective office in the Palau National Government or any State Government and may not hold any other private employment.

(d) The Financial Intelligence Unit shall receive the reports transmitted by the persons referred to in § 3823 and § 3835. The Financial Intelligence Unit shall analyze the reports on the basis of the information at its disposal and shall gather, in particular from organizations and government ministries and agencies involved in combating organized crime, any additional information that may help to establish the origin of the funds or the nature of the suspect transactions forming the subject of the reports.

(e) The reports required of the persons referred to in § 3835 shall be sent to the Financial Intelligence Unit by any rapid means of confidential communication. The Financial Intelligence Unit shall confirm in writing receipt of any reports received and of money laundering trends.

(f) Upon the effective date of this chapter, an annual report shall be submitted by the Financial Intelligence Unit to the President and the Olbiil Era Kelulau. The report shall provide an overall analysis and evaluation of the reports received and of money laundering trends.

Source: Article 3831, Palau National Code, Title 17 Chapter 8 Anti Money Laundering Act  revised edition April 2014

Financial Intelligence Unit has responsibility for receiving reports on and investigating all money laundering issues. There are no specific provisions in relation to politcal parties, candidates and elected officials