Financial Crime World

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Fiji Financial Intelligence Unit Disseminates Over 500 Intelligence Products in 2022

Suva, Fiji - Annual Report Highlights FIU’s Efforts to Combat Financial Crimes

The Fiji Financial Intelligence Unit (FIU) has released its annual report for 2022, revealing that it disseminated a total of 519 intelligence products to law enforcement agencies, regulatory bodies, and government ministries.

Primary Objective

The FIU’s primary objective is to gather and analyze financial information to combat money laundering, terrorist financing, and other financial crimes. The unit receives information from various sources, including local banks and financial institutions, as well as foreign Financial Intelligence Units (FIUs).

Dissemination of Intelligence Products

In 2022, the FIU disseminated:

  • 87 intelligence products directly requested by local law enforcement agencies, including:
    • Fiji Police Force
    • Fiji Independent Commission Against Corruption (FICAC)
    • Department of Immigration
    • Reserve Bank of Fiji
  • 131 financial data reports on individuals, entities, and addresses/phone numbers to law enforcement agencies that requested financial information.
  • 96 credibility checks on individuals and 82 entity checks upon written requests from government departments or authorities.

Intelligence Products

The FIU’s intelligence products are designed to assist law enforcement agencies in their investigations by providing critical financial information. This includes:

  • Tracing and “temporary suspension” of funds suspected to be proceeds of crime held within financial institutions
  • Enhanced due diligence on customers and monitoring of transactions

International Cooperation

In 2022, the FIU also received 19 foreign information reports from other FIUs through the Egmont Secure Web (ESW) and sent three requests for information to foreign FIUs.

Alert & Instruction Notices

The unit issued five Alert & Instruction Notices to financial institutions in 2022, which contained information on adversely reported individuals and/or business entities that require enhanced due diligence and scrutiny by financial institutions.

Conclusion

Overall, the FIU’s annual report highlights its continued efforts to combat financial crimes and protect the integrity of Fiji’s financial system.