The Fijian government is intensifying its fight against money laundering and serious financial crime with the release of the National Policy on Preventing Money Laundering and Terrorist Financing by the Fiji Intelligence Unit (FIU). This comprehensive policy emphasizes tracing and recovering the proceeds of crime as a core strategy to disrupt criminal financial activities.
Key to this initiative is the identification of illicit assets associated with the top five crimes contributing to money laundering risks, namely narcotics-related activities, organized crime, and taxation and customs offences. The FIU highlights that targeting these assets is essential for depriving criminals of their financial gains and restoring trust in the justice system.
Under the framework of the Proceeds of Crime (POC), authorities are granted robust powers to investigate, freeze, and confiscate assets linked to major offenses that extend beyond money laundering and terrorist financing. This proactive approach allows for the recovery of property connected to a wide range of criminal activities, including fraud and drug trafficking. The policy also underscores the ability to forfeit illicit assets without a criminal conviction if they are determined to be tainted.
Furthermore, it points out that confiscation measures are available for various other offenses, including illegal logging and illegal fishing. The Office of the Director of Public Prosecutions and the Fiji Independent Commission Against Corruption are responsible for forwarding applications for restraint and forfeiture orders to the courts, with the High Court holding primary jurisdiction over these matters.
The FIU asserts that bolstering asset recovery efforts is a vital component of Fiji’s national strategy against money laundering and organized financial crime, demonstrating the country’s commitment to a transparent and accountable financial system. This initiative is a hopeful step towards building a safer environment and deterring future financial crimes.
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