Financial Crime World

Fiji Strengthens Asset Recovery Processes with International Expertise

The Fiji Independent Commission Against Corruption (FICAC) has taken a significant step in its fight against corruption by signing a case consultancy agreement with the Basel Institute’s International Centre for Asset Recovery (ICAR). This partnership will enable FICAC to leverage ICAR’s expertise in identifying and recovering assets obtained through corruption, enhancing the agency’s capacity to investigate and prosecute cases.

Enhancing Capacity

Under the agreement, ICAR will provide guidance on the effective implementation of Fiji’s illicit enrichment legislation. Drawing from its publication “Illicit Enrichment: A Guide to Laws Targeting Unexplained Wealth”, ICAR will share its knowledge with FICAC. This move comes as FICAC celebrates its 15th anniversary, having established itself as a key player in Fiji’s criminal justice system.

Virtual Signing Ceremony

The virtual signing ceremony was attended by FICAC Deputy Commissioner Rashmi Aslam and Chief Investigator Frank Tora, alongside Basel Institute Managing Director Gretta Fenner and Senior Asset Recovery Specialist Andrew Dornbierer. According to Fenner, the partnership holds great potential for strengthening the regional and global fight against corruption, given Fiji’s status as an economic hub in the Pacific region.

Benefits of the Partnership

  • FICAC will be able to tap into ICAR’s expertise in tracing and recovering assets stolen through corruption, particularly those hidden abroad.
  • The partnership will enable FICAC to improve its delivery to the criminal justice system and obtain better results through collaboration with international experts.
  • It will also underscore Fiji’s commitment to tackling the menace of corruption, which has far-reaching consequences for the country’s economic development and stability.

FICAC’s Goals

FICAC aims to maximize this partnership to enhance both reactive and proactive functions, including policy matters. The Commission is currently investigating more multi-jurisdictional cases with higher financial values involved, underscoring the need for support from stakeholders like ICAR. FICAC is enthusiastic about leveraging this partnership to improve its investigative capabilities and deliver better results.

Conclusion

The partnership between FICAC and ICAR is a significant step forward in Fiji’s fight against corruption. With ICAR’s expertise and guidance, FICAC will be able to strengthen its asset recovery processes and effectively investigate and prosecute cases of corruption. This collaboration demonstrates Fiji’s commitment to tackling corruption and its impact on the country’s economic development and stability.