Press Release No 32 –
Fiji Strengthens International Intelligence Sharing Framework
Press Release No : 32/2011
Date : 11 November, 2011
The Fiji Financial Intelligence Unit (FIU) has recently strengthened its international cooperation and networking framework by signing bilateral Memorandums of Understanding (MOU) with FIUs of 12 countries. Please refer to attached list of MOUs. The Director of the FIU, Mr. Razim Buksh said that money laundering, terrorist financing, and other financial crimes are now orchestrated with more sophistication, planning and speed and usually involves several individuals, syndicates and entities using complex webs of financial transactions spread across the global financial centers.
The FIU has already implemented several measures under the Financial Transactions Reporting Act that ensures that the Fijian financial system is not abused by criminals to launder their criminal proceeds. The signing of MOUs reflects Fiji’s commitment as a global partner in the fight against organised complex crimes The Fiji FIU is also a member of the Association of Pacific Island FIUs (APIFIU) and the Egmont Group of FIUs of the World (The Egmont Group) that currently has 127 FIUs as members. Mr. Buksh said that the MOUs would facilitate the sharing and exchange of information between the FIU of Fiji and foreign counterpart FIUs.