The Fiji Intelligence Unit (FIU) has announced a new National Policy aimed at Preventing Money Laundering and Terrorist Financing, which underscores the importance of tracing and recovering the proceeds of crime as a fundamental strategy in tackling money laundering and serious financial offenses in the country.
The policy identifies specific illicit assets linked to five key crimes that notably heighten money laundering risks. Among these targeted offenses are narcotics-related crimes, organized crime, taxation, and customs violations. By concentrating on these areas, the government aims to disrupt the financial infrastructures of criminal organizations and restore public confidence in the justice system.
Through the Proceeds of Crime (POC) framework, law enforcement agencies gain significant authority to identify, trace, freeze, and confiscate assets associated with serious criminal activities beyond money laundering and terrorism. This broad scope allows authorities to address a variety of offenses, facilitating asset recovery for crimes such as fraud and drug trafficking. Additionally, the FIU states that assets can be frozen and seized without a criminal conviction if they are believed to be derived from illegal activities.
The policy also emphasizes that confiscation provisions exist within other legal frameworks concerning illegal logging and fishing. The responsibility for applying for restraint and forfeiture orders lies with the Office of the Director of Public Prosecutions and the Fiji Independent Commission Against Corruption, while the High Court serves as the main body for handling these applications under the POC framework.
As part of Fiji’s national strategy against money laundering and organized crime, the FIU is committed to reinforcing asset recovery efforts. This proactive stance not only aims to strengthen the legal framework but also to enhance the integrity of financial systems, contributing to a safer and more transparent economic environment in Fiji. Such initiatives play a crucial role in fostering public trust and creating resilient structures against financial crime, benefiting society as a whole.