Financial Crime World

Fiji’s National AML Council: Leading the Charge against Money Laundering and Terrorist Financing

The National AML Council, established under Fiji’s Financial Transactions and Reports Act (FTR Act), serves as the country’s primary body for coordinating efforts to prevent and detect money laundering, terrorist financing, and other serious financial crimes.

Missions of the National AML Council

With a clear vision of “an effective and efficient legal system and institutions to prevent and detect money laundering, terrorist financing, and other serious financial crimes in Fiji,” the National AML Council aims to accomplish the following primary missions:

  1. Provide Expert Advice
  2. Strengthen Legal and Institutional Framework
  3. Foster Collaboration

Provide Expert Advice

The Council’s mandate includes offering incisive and well-timed guidance to Fiji’s Minister and other relevant stakeholders on anti-money laundering (AML) and countering the financing of terrorism (CFT) policies and regulations.

Fiji’s AML/CFT watchdog actively promotes a robust legal, institutional, and policy framework to counter money laundering and terrorism financing. It adheres to international standards and best practices.

Foster Collaboration

The Council encourages and facilitates collaboration and networking among relevant local agencies to maximize the collective impact in combating financial crimes.

A Multifaceted Approach

To achieve these goals, the National AML Council takes a multifaceted approach:

Offering Effective Policy & Regulatory Guidance

The Council provides invaluable advice to the government on AML/CFT policies and regulations, ensuring that they remain up-to-date and effective in the face of evolving threats.

The National AML Council plays a pivotal role in building a strong legal, policy, and institutional framework for implementing international AML/CFT standards and best practices.

Supporting Institutional Efforts

The Council actively supports financial institutions and other key players in their crusade against financial crimes, offering targeted resources and advisory support as needed.

Promoting Collaboration and Networking

By connecting various agencies, the National AML Council facilitates information-sharing and cooperation, enabling more effective responses to money laundering, terrorist financing, and related illicit activities.

Advising FIU

The Council offers expert advice on AML/CFT issues to the Financial Intelligence Unit, bolstering the effectiveness of Fiji’s financial crime-fighting efforts.