Fiji's anti money laundering effort commended

Fiji’s initiatives for combating money laundering received regional recognition last month for making “substantial progress” in addressing deficiencies identified by the World Bank in 2006.

A delegation from the Fiji Government presented a detailed progress report on Fiji’s Anti-Money Laundering framework at the Annual Plenary Meeting of the Asia Pacific Group on Money Laundering in India last month.

Financial Intelligence Unit Razim Buksh says pressure is now put on countries to ensure global compliance with Anti Money Laundering standards that protect the domestic as well as international financial systems.

Solicitor General Christopher Pryde says restraining and forfeiture provisions, including civil forfeiture provisions, have been tested in Fiji and have resulted in a number of money laundering convictions and forfeiture of criminal assets.

Fiji’s criminal justice system was further strengthened and modernised with the introduction of a new Crimes Decree and the Criminal Procedure Decree.

Progress reports will be provided annually to the APG.

Report by : Edwin Nand

Source: FBC