Fiji Takes a Stand Against Financial Crime: Understanding Anti-Money Laundering Efforts

The National AML Council: A Key Player in Fiji’s Anti-Money Laundering Efforts

In its commitment to prevent and detect money laundering, terrorist financing, and other serious financial crimes, Fiji has established the National AML Council. This council is responsible for coordinating anti-money laundering (AML) and combating the financing of terrorism (CFT) activities across various sectors.

Vision and Missions

The National AML Council’s vision is to have a legal system and institutions that are effective and efficient in preventing and detecting financial crimes. To achieve this, the council has set three key missions:

• Providing Timely Advice: Offer expert guidance to relevant stakeholders on AML prevention and terrorism financing.
• Promoting a Strong Framework: Promote compliance with international standards and best practices by supporting institutions in their fight against financial crimes.
• Facilitating Cooperation: Encourage cooperation among stakeholders, including agencies and the Financial Intelligence Unit (FIU), on AML/CFT issues.

Strategies for Fulfilling Objectives

To fulfill its objectives, the National AML Council employs several strategies:

• Expert Guidance: Offers expert guidance to government agencies, including the Minister, on policy and regulatory matters related to AML/CFT.
• Promoting Compliance: Promotes compliance with international standards and best practices by supporting institutions in their fight against financial crimes.
• Cooperation and Advice: Encourages cooperation between agencies and provides advice to the Financial Intelligence Unit (FIU) on AML/CFT issues.

Creating a Robust Legal Framework

By working together, the National AML Council aims to create a robust legal framework that effectively prevents and detects money laundering, terrorist financing, and other serious financial crimes in Fiji.