The Fiji Financial Intelligence Unit (FIU) conducted an analysis of 304 suspicious transaction reports (STRs) last year, which led to the filing of 165 STRs for future intelligence use. Additionally, 125 case dissemination reports (CDRs) were provided to law enforcement agencies, accompanied by nine alert and instruction notices for financial institutions. Interestingly, five of the cases analyzed were linked to previously disseminated cases.
The FIU’s 2024 annual report identified scams as the most prevalent criminal activity, constituting 38 percent of reported cases. This was closely followed by tax crimes at 26 percent, fraud at 14 percent, and corruption and bribery at 10 percent. Illicit drug crimes made up 7 percent, while breaches of regulations accounted for 3 percent, and sexual exploitation represented 2 percent. Notably, while scams dominated the number of CDRs, tax crimes resulted in significantly higher transaction values, accounting for 86 percent of the total.
Throughout the year, the Fiji FIU shared 237 intelligence products with various law enforcement and regulatory bodies, a decline from 429 products disseminated in 2023. This decrease is attributed to optimized financial intelligence processes and efforts to enhance the capacity of law enforcement agencies, enabling them to more effectively extract and interpret data from the FIU’s database. Law enforcement agencies accessed a total of 1,334 financial data reports from the FIU in 2024, a notable increase compared to just 111 reports in the previous year.
Among the disseminated intelligence products, 125 CDRs were shared with law enforcement, down from 163 in 2023. These reports encompassed information on 140 individuals and one entity. Specifically, 57 percent of these CDRs were directed to the Fiji Police Force (FPF), while 25 percent went to the Fiji Revenue and Customs Service (FRCS). In addition, the FIU generated 66 intelligence products based on direct requests from enforcement agencies like the FPF, FICAC, and FRCS, which included data on 168 individuals and 65 entities.
The FIU received a staggering 6,139,750 financial transaction and other reports to support its intelligence development. These included STRs, cash transaction reports (CTRs), threshold transaction reports (TTRs), and electronic funds transfer reports (EFTRs) submitted by financial institutions. Furthermore, the FIU conducted 697 inquiries with financial institutions and governmental bodies to gather additional insights for analyzing STRs and producing other intelligence products.
This comprehensive approach reflects the Fiji FIU’s commitment to enhancing financial security and combating financial crimes through meticulous analysis and collaboration with law enforcement and regulatory agencies.