Which Tiny Island in the Pacific (actually it's 3 islands) Has been listed as the Most dangerous country Domain on the Web Is given out freely to all sorts of individuals without checks

Bedstor,
I think the answer is The Tokelau Islands.
They are a group of three tiny atolls; Fakaofo, Nukunonu and Atafu. Situated in the Pacific; they are dependencies of New Zealand.

Apparently 10% of Tokelau's sites are labeled a risk by the McAfee SiteAdvisor research report.

Here is a link to Silicon Rebublic.

Well spotted dg The ".tk" Domain Is the most risky Domain on the web
Though There is a near confusable look alike with Tajikistan (.TJ) and that is in the wild parts of the Former Soviet empire

Though on the Flip side ...you want to have a Free domain name and keep it (despite the risks)read this article
http://home.wangjianshuo.com/archives/20040204_free_tk_domain_available.htm

Which in turn leads to here www.dot.tk/en/index.html

And here is info on those Islands ....Looks Like the Answerpool Vacation camp
http://en.wikipedia.org/wiki/Tokelau