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Smuggled Cash and Crime: A Growing Concern in Solomon Islands
A recent investigation has revealed that foreign money is being used to facilitate crime in Solomon Islands, with corruption, illegal logging, and fishing being the top three crimes driven by external funds.
The Study’s Findings
The study analyzed various crimes in the country and found that corruption, illegal logging, and fishing were most likely to be financed from abroad. Specifically, it identified Australia, China, Malaysia, Singapore, and Indonesia as countries whose funds are being used to facilitate these crimes.
Corruption
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Foreign funds are being used to influence decisions on work permits, visas, revenue collection, and resource extraction licenses.
Illegal Logging and Fishing
Logging entities from foreign countries are suspected of financing political interests in Solomon Islands. The study also highlighted the involvement of employees in the logging and fishing industries as frequent clients of sex workers, with transactions likely going undetected by financial intelligence systems.
To Combat Crime
To combat these crimes, the investigation recommended:
- Improved bank monitoring of higher-risk customers and industries
- Enhanced sharing of financial intelligence among regional authorities
- Border currency monitoring to detect suspicious transactions
- Establishment of financial monitoring and reporting systems in casinos, car dealerships, credit unions, and money transfer services
Subregional Cooperation
The report highlighted the need for subregional cooperation against environmental crime, citing examples of illegal logging conducted by similar companies in Solomon Islands, Papua New Guinea, and Indonesia.
Association between Crime Types and Foreign Countries
- Corruption: China, Malaysia, and other Asian countries
- Illegal logging and fishing: PNG, Fiji, and other Asia-Pacific countries
- Counterfeit currency: South Africa and China
- Human trafficking and prostitution: China and Asia
- Theft of bank drafts and travellers cheques: South Africa
- Financial scams: PNG and Nigeria
- Drug trafficking: Australia, PNG, and Fiji
- Smuggling of wildlife and war relics: Australia and Asia
Conclusion
The investigation’s findings highlight the need for strengthened financial intelligence gathering and sharing among regional authorities to combat crime in Solomon Islands.