FIU investigates properties purchased through criminal proceeds
August 30, 2018 7:04 pm
The Fiji Intelligence Unit is currently investigating several cases where real estate properties have been purchased through criminal proceeds.
FIU Director Razim Buksh has revealed to FBC News that two real estate properties are subject to investigation while another was restrained and forfeited to the state under the Proceeds of Crime Act.
He has aslo confirmed the value of these transactions run into millions of dollars.
“We are investigating a property transaction that involves several millions of dollars which is located in the West that has criminal proceeds suspected to be proceeds from drug trafficking and the refunds were channelled from offshore bank accounts into Fiji and property was purchased using criminal proceeds.”
Buksh says Real estate agents need to be vigilant.
“It’s very important all the real estate agents understand their roles and obligation to ensure that their clients are properly identified , their source of funds are identified and where there are possibilities of dodgy clients both buyers and sellers must be flagged to the FIU and we are able to thoroughly investigate these clients and customers.”
There are currently 84 registered real estate agents with more than 200 sales persons in the country.