Financial Crime World

Fiji’s National Anti-Money Laundering Council Expresses Concern over Surge in Financial Crimes

In response to the increasing prevalence of money laundering and financial crimes in Fiji, the National Anti-Money Laundering Council held an emergency meeting this week. The Council shared their concerns over the recent surge in financially motivated criminal activities.

Concerns Raised by the Council

  • The Council expressed rising concern over the increasing severity and frequency of financially motivated crimes in Fiji.
  • They highlighted the disconcerting nature and sheer volume of such criminal activities.

Strategies to Combat Money Laundering and Financial Crimes

  • The Council agreed on a series of strategies to combat money laundering and financial crimes effectively.
  • These strategies include improved inter-agency collaboration and intelligence sharing.
  • Increasing public awareness on the issue is also a priority.

Ongoing Training and Education Programs

  • The Council acknowledged the intricacy and ever-evolving nature of money laundering schemes.
  • They emphasized the importance of ongoing training and education programs for their staff.
  • Regular updates on international best practices are also crucial to stay ahead of the criminals.

Reporting Suspicious Transactions and Activities

  • The public is encouraged to report any suspicious transactions or activities to their nearest financial institution or the relevant law enforcement agencies.
  • Anonymity is assured through various reporting channels.

Financial Institutions’ Support for the Council’s Initiatives

  • Fiji’s financial institutions have pledged their support to the Council’s initiatives.
  • They have committed to heightened vigilance against suspicious transactions and stronger customer due diligence.

Encouraging Whistleblowers

  • Anonymity is assured through the various reporting channels, which aim to ensure a safe and secure environment for whistleblowers.

This is a developing story. Fiji One News will continue to monitor the situation and provide updates as more information becomes available.