Financial Crime World

Financial Crime Investigation Agencies in Kiribati Step Up Efforts to Combat Money Laundering and Corruption

Enhancing Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) Domestic Coordination

The inaugural Public/Private Sector Dialogue Forum was held on October 4, 2022, in Tarawa, Kiribati. The event brought together representatives from key government agencies, financial intelligence units, law enforcement entities, and private sector organizations to share information and coordinate efforts to combat money laundering and corruption.

Highlights of the Forum

  • Key government agencies, financial intelligence units, law enforcement agencies, and private sector organizations shared information and coordinated efforts to combat money laundering and corruption.
  • The Kiribati Financial Intelligence Unit (FIU) played a pivotal role in coordinating AML/CFT efforts and provided an opportunity to extend its networks and improve domestic coordination.
  • Stakeholders appreciated the importance of Suspicious Transaction Reports detection and reporting to the FIU, enhanced networking among stakeholders, consideration of inclusion of additional stakeholders in the AML/CFT Coordinating Committee, and agencies reviewing their policies on information sharing arrangements.

Key Takeaways

  • The need for robust information-sharing networks among government bodies, financial intelligence units, law enforcement agencies, and the private sector was highlighted.
  • The forum fostered trust building among stakeholders and provided an opportunity to extend networks and improve domestic coordination.

Quotes from the Event

  • “The Kiribati Police Force would like to extend gratitude to UNODC on behalf of the Commissioner of Police for organizing this timely forum.” - Reetaake Takabwere, Deputy Commissioner for Strategy and Reform, Kiribati Police Force
  • “Kiribati is an observer with the Asia Pacific Group on Money Laundering, and we hope to implement the necessary framework and requirements to obtain full membership like other Pacific jurisdictions.” - Reetaake Takabwere, Deputy Commissioner for Strategy and Reform, Kiribati Police Force
  • “Corruption is a predicate offence for money laundering, and implementing anti-corruption efforts will align with AML/CFT efforts.” - Ritite Tekiau, Secretary of the Public Service Office (PSO) and UNCAC Focal Point for Kiribati

Looking Ahead

UNODC looks forward to facilitating further dialogue sessions on AML/CFT coordination in Kiribati and other Pacific jurisdictions to strengthen information sharing arrangements among key integrity institutions and combat money laundering and associated predicate crimes.