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FNPF Warns Members On Fraud

FNPF Warns Members On Fraud
May 19
14:17 2018

NOTABLE INCREASE IN CLAIMS OF UNAUTHORISED WITHDRAWALS AND FALSIFIED DOCUMENTS PROVIDED

CEO said members have been charged and imprisoned in the past

The Fiji National Provident Fund has warned members against defrauding the Fund and will ensure that those engaged in such acts face criminal charges.

While the Fund has often cau­tioned members against such ac­tivities, it continues to encounter attempts at fraud, with a notable increase in claims of unauthor­ised withdrawals and falsified documents provided for early with­drawal assistance.

Chief executive officer Jaoji Koroi said members have been charged and imprisoned in the past and the Fund will not hesitate to take those engaging in fraudulent activities, to task.

“The Fund’s Audit and Legal teams have been alerted to inci­dents of fraud and have conducted the necessary investigations,” Mr Koroi said.

“The submission of false termi­nation or resignation letters and forging of employers signatures are serious offences which carries an imprisonment term under the law.

“In 2016, four members who pro­vided falsified termination letters with their Unemployment Assis­tance applications, were investigat­ed, prosecuted and incarcerated.

“These members served prison terms of 18 to 20 months as a result of their actions.”

Investigations are ongoing for similar cases, while others are be­fore the courts.

“We reiterate that there are seri­ous consequences for such activi­ties.”

He adds that fraud is a global risk and while the advancement of technology enables members to have greater access to their ac­counts, the Fund is also mindful of illegal online activities and has taken stringent measures to curb the commission of these offences.

To date, the Fund has encoun­tered various fraudulent offences which also includes abuse of hous­ing assistance, impersonation and nomination fraud.

Mr Koroi said the Fund has a zero tolerance for fraudulent activities and penalties for fraud related of­fences vary according to the sever­ity of the offence.

“Members funds are entrusted to us and as custodians, we have a responsibility to ensure that their funds are safe and accumulates for the purpose of retirement.”

Source: Fiji National Provident Fund

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