Fiji Financial Intelligence Unit 2016 Annual Report
Reporting to the National AML Council
The National AML Council is established under the FTR Act and its members, roles and functions are also provided under the FTR Act.
The Council provides broad policy advice, assistance and guidance to the FIU on the prevention of money laundering, terrorist financing and related activities in Fiji. The Council is also responsible for making recommendations to the Minister on the appointment of the Director of the FIU.
The FIU provides regular reports and updates to the National AML Council.
Funding and Administration
The FIU is fully funded by the RBF and is organised as a separate functional group within the RBF’s organisation structure. The annual budget of the FIU is submitted for the approval by the Board of the RBF each year. The FIU is accountable to the Governor and the Board for the use of funds allocated annually.
The FIU is administratively housed within the RBF. The FIU is subject to all the administrative protocols, policies and procedures of the RBF.
Due to the nature of its establishment as part of the RBF, the FIU does not prepare and publish a separate set of financial statements on its operations. The expenditure of the FIU is included in the financial statements of the RBF and is subject to the Bank’s internal and external audit.