Money Laundering and Terrorism Financing Threats: A Global Concern for Fiji and International Community

Udit Singh, FRCS CEO, Warns of Constant Threats

At the World Customs Organization’s (WCO) Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) workshop in Suva, Fiji, the Fiji Revenue and Customs Service (FRCS) CEO, Udit Singh, raised concerns about the constant threats Fiji’s economic and national security face from money laundering and terrorism.

Significant Risks to Economies, Funding Criminal Enterprises

According to Singh, these threats pose enormous risks to economies and can fund criminal enterprises. Furthermore, they jeopardize international security. The importance of collaboration and knowledge-sharing among international experts was underlined to effectively combat these issues.

Fiji’s Commitment and Leadership

David Kane, head of the WCO AML/CTF Programme, applauded Fiji’s resolute commitment to security. He acknowledged the country’s significant strides in setting regional examples by updating legislation and implementing stringent measures against money laundering and terrorism financing.

Strengthening Capacity in Asia Pacific Region

This five-day workshop attracted delegates from ten customs administrations, six Financial Intelligence Units (FIUs), six police administrators, INTERPOL, the EGMONT Group of FIUs, and regional liaison officers in the Asia Pacific region. Its primary goal was to boost participants’ capacity to fight money laundering and terrorism financing in the customs sector.

WCO and FRCS’ Gratitude and Collaborative Spirit

Both WCO and FRCS expressed appreciation for all attendees and contributors. Their collaborative efforts provided a vital platform for expert presentations and discussions on various aspects of AML/CTF.

Global Challenge: Collaborative International Response

Singh emphasized that money laundering and terrorism financing posed a considerable challenge to countries worldwide. Effective collaboration among international organizations like the WCO is essential in addressing these threats. The workshop marked a crucial step towards bolstering international efforts against economic and security risks associated with money laundering operations.

Dedication to Future Endeavors

The WCO and FRCS remain committed to future initiatives aimed at safeguarding economies and security against money laundering and terrorism financing threats.