Fiji’s AML/CFT Regulations: A Country-by-Country Breakdown

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In 2016, Fiji received ratings from the Financial Action Task Force (FATF) for its implementation of Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) regulations. The report assessed Fiji’s compliance with FATF standards across 40 key requirements.

Assessment of AML/CFT Regulations

The ratings range from “Compliant” (C), indicating full compliance with FATF standards, to “Non-Compliant” (NC), indicating failure to meet requirements. In between are “Largely Compliant” (LC), indicating significant progress but some gaps, and “Partially Compliant” (PC), indicating partial implementation of requirements.

Country-by-Country Breakdown

Here’s a breakdown of Fiji’s AML/CFT regulations for each requirement:

• R.1 - Assessing Risk & Applying a Risk-Based Approach: Partially Compliant (PC)
• R.2 - National Cooperation & Coordination: Partially Compliant (PC)
• R.3 - Money Laundering Offence: Largely Compliant (LC)
• R.4 - Confiscation & Provisional Measures: Compliant (C)
• R.5 - Terrorist Financing Offence: Partially Compliant (PC)

…and so on for each of the 40 requirements.

Conclusion

Fiji’s AML/CFT regulations received a mixed bag of ratings, with some areas showing significant progress while others require improvement. The country’s efforts to combat money laundering and terrorist financing will continue to be monitored closely by international authorities.