Deputy Prime Minister and Minister for Trade Manoa Kamikamica expressed concerns regarding outdated legislation and the ineffectiveness of statutory agencies in addressing scams and money laundering. He highlighted that currently, no actions can be taken against scams until a police report is filed. Mr. Kamikamica indicated that an active task force is reviewing and updating relevant laws to align them with international best practices.
In his remarks during the parliamentary debate on the ‘Review Report of the Fiji Financial Intelligence Unit Annual Report 2023,’ he emphasized the importance of modernizing legislation to ensure it can effectively combat financial crimes. The Deputy PM strongly supports revising existing acts, stressing their crucial role in maintaining financial integrity within the government.
Additionally, he noted that the ministry is collaborating with the Financial Intelligence Unit (FIU) under the Indo-Pacific Economic Framework for Prosperity (IPEF) to prevent money laundering, enhance transparency, and foster cooperation among partner nations. Kamikamica also highlighted the need for better resourcing of the FIU to fulfill its important responsibilities.
This proactive approach by the Fijian government signifies a positive step toward establishing a robust legal framework capable of deterring financial crimes, thereby promoting a secure and trustworthy economic environment.
In summary, the government is taking significant initiatives to revamp outdated laws and ensure robust mechanisms are in place for preventing financial crimes while fostering collaboration and integrity in the economic sector. This indicates a commitment toward a more secure and transparent financial landscape in Fiji.
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