Kiribati Tackles Money Laundering Prevention Strategies
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The United Nations Convention against Corruption (UNCAC) emphasizes the importance of preventing corruption in both public and private sectors. Kiribati, one of the Pacific Islands countries, is working towards implementing effective anti-corruption strategies to curb money laundering and other forms of corruption.
Implementing Effective Anti-Corruption Strategies
According to Chapter II of UNCAC, a comprehensive regulatory and supervisory regime for banks and non-banking financial institutions must be put in place to deter and detect all forms of money laundering. Kiribati is required to establish a Financial Intelligence Unit as a national centre for the collection, analysis, and dissemination of information regarding potential money laundering.
National Anti-Corruption Strategy (NACS)
The country’s NACS aims to promote transparency and integrity in public administration. It emphasizes:
- Fair, equitable, and transparent systems for the recruitment and hiring of civil servants
- Measures to prevent conflicts of interest
Strengthening Integrity Mechanisms
Kiribati is working to establish an independent judiciary with strong integrity mechanisms.
Enhancing Accounting and Auditing Standards
The country is committed to enhancing accounting and auditing standards in the private sector, including:
- Obligations for private entities to maintain accurate bookkeeping and records
Community Engagement and Participation
Participation of society and community engagement are crucial components of Kiribati’s anti-corruption efforts. The government aims to encourage active participation from individuals and groups outside the public sector, including:
- Non-governmental organizations
- Community-based organizations
“We recognize the importance of preventing corruption in both public and private sectors,” said [Name], a government official. “Our National Anti-Corruption Strategy is designed to promote transparency and integrity in all aspects of our administration.”
Support from UN Pacific Regional Anti-Corruption Project (UN-PRAC)
The UN-PRAC has been supporting Kiribati’s anti-corruption efforts, providing technical assistance and training to help the country implement effective anti-corruption measures.
For more information on UNCAC Chapter II, please visit: https://www.unodc.org/documents/treaties/UNCAC/Publications/Convention/08-50026_E.pdf.