Deputy Prime Minister and Minister for Trade Manoa Kamikamica has highlighted the inadequacies of existing government and statutory agency legislations, describing them as outdated and ineffective. He pointed out that when scams are detected, current laws prevent agencies from acting until a police report is filed, which significantly hampers timely and effective responses.
During a parliamentary debate on the ‘Review Report of the Fiji Financial Intelligence Unit Annual Report 2023’, Kamikamica emphasized the ongoing efforts of a dedicated taskforce aimed at revising pertinent legislations to align them with international best practices. He expressed the necessity for stronger legislative measures that would provide authorities with more robust tools to combat scams and money laundering.
Kamikamica also underscored the critical role of the Financial Intelligence Unit (FIU) as a pillar of financial integrity within the government. He expressed support for updating the relevant legislative framework to ensure it adheres to contemporary standards and practices. The ministry is collaborating closely with the FIU under the Indo-Pacific Economic Framework for Prosperity (IPEF) to enhance measures against money laundering and improve transparency among partner nations.
Further, he acknowledged the importance of adequately resourcing the FIU to empower it in fulfilling its responsibilities effectively. This highlights a comprehensive approach to foster a corrupt-free environment that would ultimately benefit the economy and all its sectors.
Overall, these proactive steps show a commitment to enhancing governance and protecting the integrity of financial systems in Fiji, which is essential for fostering trust and stability in the economy. This determination to modernize legislation and strengthen the fight against corruption bodes well for the future, promising a more secure environment for businesses and citizens alike.
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