Title: Kiribati Police and Private Sector Unite in Fight Against Financial Crime: AML/CFT Dialogue Forum Held in Tarawa
Background
On October 4, 2023, in a significant step forward for financial crime prevention in Kiribati, top law enforcement officials, drug forensics experts, and representatives from the private sector gathered for the inaugural Public/Private Sector Dialogue Forum on Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) in Tarawa.
Participants
The one-day event brought together 15 representatives from different Kiribati agencies, including:
- Kiribati Police Force
- Kiribati Financial Intelligence Unit
- ANZ Bank
- Kiribati Insurance Corporation
- Public Service Office
- Kiribati Tax Office
- Kiribati Customs Office
- Ministry of Foreign Affairs & Immigration Office
Importance of Information-sharing Networks and FIUs
During the forum, the importance of robust information-sharing networks between government bodies, financial intelligence units (FIUs), law enforcement agencies, and the private sector was emphasized. The crucial function of Financial Intelligence Units in effectively investigating key predicate offenses and swiftly disseminating critical intelligence to law enforcement agencies was acknowledged.
Speeches
Mr. Reetaake Takabwere, Deputy Commissioner for Strategy and Reform at Kiribati Police Service, commenced the forum with a warm welcome on behalf of the Commissioner of Police. He expressed appreciation for the Kiribati FIU’s engagement with domestic and international counterparts to implement relevant AML/CFT measures.
Ms. Ritite Tekiau, Secretary of the Public Service Office and UNCAC Focal Point for Kiribati, followed with her welcome remarks, emphasizing her agency’s commitment to bolstering AML efforts by implementing anti-corruption strategies. UNODC’s long-term support in the development and implementation of the National Anti-Corruption Strategy was also acknowledged.
Key Takeaways
Some main takeaways from the forum were:
- The importance of Suspicious Transaction Reports (STRs) detection and reporting to the FIU.
- The advantages of enhanced networking among stakeholders.
- The possibility of inviting additional stakeholders to join the AML/CFT Coordinating Committee to strengthen collective efforts against financial crimes.
Conclusion
The forum marked a significant milestone in strengthening collaborations and information sharing arrangements among key integrity institutions in Kiribati. UNODC looks forward to facilitating further dialogue sessions on AML/CFT coordination with public and private sector agencies in Kiribati and other Pacific jurisdictions.