FIU received 579 suspicious transaction reports
July 16, 2017 6:25 pm
The Financial Intelligence Unit received 579 suspicious transaction reports and disseminated 195 intelligence reports to law enforcement agencies for further investigation of possible money laundering and other offences last year.
Director, Razim Buksh, says FIU also continued to provide assistance to the Police Force, FICAC, FRCA, and other enforcement agencies relating to ongoing criminal investigations.
Buksh says the Financial Transactions Act has empowered them to conduct in-depth financial proofing, asset tracking and proactive monitoring of financial transactions.
He says the key outcome for the FIU last year was the finalization of Fiji’s mutual evaluation report by the Asia Pacific Group on Money laundering.
Buksh says the report outlines the findings of an assessment held in 2015 of Fiji’s compliance with the international AML standards.
He says the report specifies key deficiencies for Fiji to address.
These revelations were made in the Annual Report for 2016 which was tabled in parliament last Friday.