Financial Crime World

Fiji’s Financial Crime Enforcement Agencies Take Aim at Criminals’ Cash

Protecting Fiji’s Financial System from Abuse

The Financial Intelligence Unit (FIU) of Fiji is on a mission to safeguard the country’s financial system from abuse by criminals who seek to launder illegal proceeds or facilitate serious crimes. As mandated by the Financial Transactions Reporting Act, the FIU has two core functions aimed at preventing and detecting money laundering, terrorism financing, and other serious crimes.

Developing Financial Intelligence

As an intelligence agency, the FIU develops financial intelligence from reports of transactions provided by financial institutions and information from other sources. This valuable intel is then shared with local law enforcement agencies such as:

  • Fiji Police Force
  • Fiji Revenue and Customs Services
  • Fiji Independent Commission Against Corruption

to aid in investigations and prosecutions. The FIU also provides intelligence support to local and foreign law enforcement agencies for ongoing operational projects or taskforces.

Ensuring Strong Internal Systems and Controls

In its regulatory function, the FIU ensures that financial institutions in Fiji have strong internal systems and controls to mitigate the risk of their services and products being misused by criminals. The unit:

  • Promotes awareness and understanding of financial crime risks and threats among financial institutions
  • Works closely with government agencies and international partners to share information and best practices

Partnerships and Collaborations

The FIU’s partnerships and collaborations with key stakeholders are crucial in its efforts to combat money laundering, terrorism financing, and other serious crimes. The unit also contributes to:

  • International policy formulation on these issues
  • Representing Fiji on anti-money laundering platforms

Supporting National Security

Ultimately, the FIU’s role is to contribute to a secure financial system that prevents and detects money laundering and other serious crimes, while also supporting national security by hindering criminal efforts to profit from their illegal activities.