Fiji Intelligence Unit Uncovers $220 Million in Financial Crimes in 2018

Major Discoveries in Tax Evasion, Money Laundering, and Fraudulent Activities

The Fiji Intelligence Unit reported over $220 million worth of financial crimes in 2018, marking a significant discovery in tax evasion, money laundering, and various fraudulent activities.

Primary Beneficiary: Fiji Revenue and Customs Service (FRCS)

Unit Director, Razim Buksh, confirmed that the Fiji Revenue and Customs Service (FRCS) was the primary beneficiary of the intelligence reports from the Fiji Intelligence Unit, accounting for over 70% of the total reports.

Impact on FRCS Investigations

In 2017, these reports facilitated the investigation of over 1,279 individuals and businesses for tax and customs violations by the FRCS.

Collaboration Between Fiji Intelligence Unit and Fiji Revenue and Customs Service

Buksh and the CEO of Fiji Revenue and Customs Service, Visvanath Das, held a meeting this week to discuss ways to enhance collaboration between the two agencies in strengthening tax and customs compliance and fraud investigations.

Opportunities for Improved Information Exchange

During the meeting, they explored the following opportunities to enhance their partnership:

• Profiling suspected tax evaders
• Investigating trade-based money laundering
• Collaborating on other financial crimes

Critical Role of Fiji Intelligence Unit’s Referral Reports

Das acknowledged that the Intelligence Unit’s referral reports were essential in revealing fraudulent activity, enabling the FRCS to assess taxes and penalties amounting to $6.6 million in 2017.

Impact on Business Sectors

Approximately 21% of these proceeds originated from businesses dealing with the wholesale and retail of Motor Vehicles.

Continuous Efforts to Enhance Tax Compliance

Despite the cultural shift towards tax compliance in Fiji, both agencies expressed their determination to pursue and prosecute individuals and businesses who disregard their tax obligations.