[Photo: File]

The lack of clear enforcement outcomes from financial intelligence has been flagged as a major gap in Fiji’s fight against financial crime.

More than 37 million financial transaction and border currency reports are held by the Financial Intelligence Unit but Parliament has been told that there is no clear measure of how much criminal activity is being disrupted as a result.

Standing Committee on Economic Affairs Chairperson Sakiusa Tubuna explained that the key weakness exposed by the review is the disconnect between financial intelligence and enforcement.

The FIU received 6.14 million reports in 2024 and produced 287 intelligence products for law enforcement and other government agencies.

But Tubuna said the committee could not establish how many led to investigations, prosecutions, convictions or recovery of criminal assets.

The financial exposure, he said was significant.

“The FIU has been producing intelligence products, but the efforts that are being undertaken are not leading to the national outcome that we are trying to achieve.”

Tubuna adds that tax-related offences accounted for about 86 per cent of the total transaction value linked to cases in which FIU intelligence was disseminated.

Opposition MP Rinesh Sharma said the enforcement gap was also evident in the handling of suspicious transaction reports.

Of 559 reports received in 2024, only 304 were analysed, leaving 255 unanalysed.

Sharma says intelligence referrals to law enforcement dropped from 429 in 2023 to 237 in 2024, while the committee could not determine the number of investigations, prosecutions or convictions resulting from those referrals.

He also questioned supervision of high-risk sectors, with only one lawyer and four real estate agents examined on site during 2024.

Acting Attorney-General Siromi Turaga states the government supports a formal feedback mechanism so agencies report back on investigations, prosecutions, convictions, tax recoveries and asset recoveries linked to FIU intelligence.

Committee member Semi Koroilavesau said the FIU also needs greater operational independence from police and FRCS officers seconded to it.

Minister for Public Works Ro Filipe Tuisawau says stronger coordination and risk-based supervision are necessary as financial crime risks evolve.

Parliament unanimously agreed to the report.