Fiji Takes a Stronger Stance Against Money Laundering

Strengthening Financial Security in Fiji

In an effort to combat financial crimes, the Fijian government has established the National Anti-Money Laundering (AML) Council. This move signifies Fiji’s commitment to preventing and detecting money laundering and terrorist financing.

Key Objectives of the National AML Council

• Provide expert advice to the government on AML/CFT issues
• Promote a strong AML/CFT framework that complies with international standards
• Facilitate networking and cooperation amongst relevant stakeholders

Mission and Vision of the National AML Council

The council’s mission is threefold, focusing on providing expert advice to the government, promoting a robust AML/CFT framework, and facilitating networking and cooperation. Its vision is to establish an effective and efficient legal system that can effectively combat financial crimes in Fiji.

Guiding Principles for Achieving the Mission

To achieve its missions, the National AML Council will provide guidance on policy and regulatory matters related to AML/CFT. It will also work towards promoting a robust legal and institutional framework that meets international AML/CFT standards and best practices.

Supporting Institutions in Combating Financial Crimes

The council aims to support institutions in their efforts to combat money laundering and terrorist financing by providing advice and facilitating networking and cooperation between agencies. It will also advise the Financial Intelligence Unit (FIU) on AML/CFT issues, ensuring that Fiji remains at the forefront of global efforts to prevent financial crimes.

A Significant Step Towards Upholding International Standards

The establishment of the National AML Council marks a significant step in Fiji’s commitment to combating financial crimes and upholding international standards on anti-money laundering regulations.