Fiji Steps Up Efforts to Combat Financial Crime Amid Rising Global Concerns

Strengthening Defenses Against Financial Crime

In response to growing global concerns, Fiji has announced plans to implement a comprehensive framework of measures to combat money laundering, terrorist financing, and the proliferation of weapons of mass destruction.

International Standards for Combating Financial Crime

The Financial Action Task Force (FATF) Recommendations serve as an international standard for countries to follow. Each nation is required to adapt these measures to its unique circumstances. Fiji has joined forces with other member states to ensure a consistent and effective approach to combating financial crime.

Fiji’s Commitment to Combating Money Laundering and Terrorism Financing

As a member of the Asia-Pacific Group on Money Laundering (APG), Fiji has already demonstrated its commitment to tackling money laundering and terrorism financing by enacting anti-money laundering laws that cover all serious offenses. The country has also established a Financial Intelligence Unit, which is equipped to report suspicious transactions and support efforts to track down illegal funds.

Regular Evaluations and Feedback

The FATF Recommendations provide a framework for countries to assess their own anti-money laundering and combating the financing of proliferation systems. Regular evaluations help ensure that measures are effective and up-to-date. Fiji’s membership in the APG enables it to participate in these evaluations and receive feedback from international experts.

Key Measures Implemented by Fiji

• Enacted anti-money laundering laws that cover all serious offenses
• Established a Financial Intelligence Unit to report suspicious transactions and track down illegal funds
• Joined forces with other member states to ensure a consistent and effective approach to combating financial crime
• Participates in regular evaluations and receives feedback from international experts