Here is the article in Markdown format:
Fiji Financial Intelligence Unit Issues Annual Report for 2015
The Fiji Financial Intelligence Unit (FIU) has released its annual report for 2015, highlighting the various alerts and directives issued by the unit to protect the country’s financial system from fraud and other illegal activities.
Alerts Issued in 2015
According to the report, seven Alert Notices were issued in 2015, which involved 41 individuals and one entity. The majority of these notices related to individuals suspected of being linked to possible advance fee fraud.
- January 7, 2015: Possible advance fee fraud targeting commercial banks and money remittance service providers.
- March 6, 2015: Possible advance fee fraud and investment fraud targeting commercial banks and money remittance service providers.
- May 13, 2015: Possible advance fee fraud targeting commercial banks and money remittance service providers.
- April 2, 2015: Attempts to exchange large quantities of demonetized foreign currency and commemorative notes in Fiji.
- June 22, 2015: Stolen foreign currency from a robbery at a local residence.
- August 6, 2015: Possible advance fee fraud targeting commercial banks and money remittance service providers.
- September 29, 2015: Stolen foreign currency from a robbery at a local commercial bank outlet.
Directives Issued in 2015
The FIU also issued 11 directives to financial institutions in 2015, which aimed to prevent illegal activities such as money laundering and terrorist financing. These directives required financial institutions to:
- Undertake enhanced due diligence on customers, establish the source of funds, and identify any third-party transactions.
- Seek approval in writing from the FIU before proceeding with any withdrawal transactions.
- Temporarily suspend a transaction until all necessary information is provided by the customer.
Commitment to Compliance
The FIU’s annual report highlights its commitment to protecting Fiji’s financial system from illegal activities and ensuring compliance with international standards. The unit will continue to work closely with financial institutions and law enforcement agencies to prevent money laundering, terrorist financing, and other financial crimes.