### Subtitle: 30 June 2023

The Asia Pacific Group (APG) has released a follow-up report on Fiji's progress in implementing anti-money laundering and counter-terrorist financing (AML/CFT) measures, identified during its Mutual Evaluation Report (MER) and subsequent Follow-Up Report (FUR).

### Significant Improvements but Persisting Challenges

The APG's assessment, conducted between May 2021 and March 2023, analyzed Fiji's progress in addressing the technical compliance deficiencies raised in its earlier reports. The evaluation team commended Fiji for the progress made and acknowledged the commitment of the authorities to strengthen the country's AML/CFT framework.

**Key Findings from the APG Report**

- Customer Due Diligence (CDD): Improvements have been made, but more effort is needed to fully implement effective CDD measures.
- Transaction Monitoring: The need for enhancements in this area was emphasized.
- Risk Assessment: Continued improvements are necessary to effectively assess and manage risks.
- Financial Intelligence Unit (FIU) and Regulatory Authorities: Capabilities need strengthening to analysis complex money laundering schemes and terrorist financing risks.

### Further Progress Expected

Despite the challenges faced, Fiji is expected to make further progress as it participates in a regional review in the Asia Pacific region later this year. The APG will provide detailed feedback and recommendations to Fijian authorities and monitor their implementation closely.

### Fiji's Commitment to FATF Standards

Fiji, as a member of the Asia Pacific region, is committed to implementing the Financial Action Task Force (FATF) standards to prevent and counter financial crimes effectively. The country needs to ensure that it has strong safeguards in place to protect its financial system from potential threats and uphold the integrity of the international financial system.

### Global Attention on Money Laundering in the Pacific Islands Region

The follow-up report's publication comes as Fiji grapples with increasing global attention on money laundering and terrorist financing activities in the Pacific Islands region. The APG's evaluation findings underscore the need for stronger coordination and cooperation among Pacific Island countries and the international community to address these challenges effectively.

### Regional Context

The follow-up report is one of several assessments conducted by the APG in the Asia Pacific region focused on AML/CFT compliance. The organization aims to promote the adoption and effective implementation of FATF standards and support its members' efforts in combating financial crimes.