SUNBIZ

Preparations For Peer Assessment Begin

Peer assessment of Fiji’s compliance with the international anti-money laundering and combating the financing of terrorism standards will be conducted in October. The peer assessment will see how well Fiji
29 Jul 2015 11:22
Preparations For Peer Assessment Begin
The Fijian delegation at the 18th annual plenary meeting of the Asia Pacific Group on Money Laundering in Auckland, New Zealand: From left: Razim Buksh (Director Financial Intelligence Unit), Christopher Pryde (Director Public Prosecution), Jayneeta Prasad (ODPP), Timaima Rayawa (FRCA), Ragni Singh (RBF), Kolora Naliva (FICAC), Puran Lal (Fiji Police), Sophina Ali (SG’s Office) and Caroline Pickering (FIU). Photo: RBF

Peer assessment of Fiji’s compliance with the international anti-money laundering and combating the financing of terrorism standards will be conducted in October.

The peer assessment will see how well Fiji is complying with these international standards.

These include among other things, anti-money laundering and combating the financing of terrorism laws, policies, coordination, powers of the law enforcements authority and the Financial Intelligence Unit.

Also to be assessed will be preventative measures for banks and other financial institutions, money laundering convictions and confiscation of proceeds of crime.

Director of Financial Intelligence Unit, Razim Buksh, said that Fiji’s mutual evaluation onsite visit will be very intensive.

He said this will see the involvement of both the public sector and private sector agencies.

“The National Anti-Money Laundering Council is now making preparations for the onsite visit by a team of experts in October,” he said.

Mr Buksh recently led a delegation to attend the 18th annual plenary meeting of the Asia Pacific Group on Money Laundering (APG) in Auckland, New Zealand.

Fiji is a member of the APG and contributes to important plenary discussions and decisions at the annual meetings.

Mr Buksh said Fiji raised key global compliance issues at the meeting and called for greater flexibility when assessing compliance of AML/CFT standards for low risk and low capacity countries.

Mr Buksh said the 2016 APG annual plenary meeting will be held in July in Bangladesh where Fiji’s mutual evaluation report will be discussed and adopted.

Feedback: rachnal@fijisun.com.fj

 

Fijisun E-edition
Advertise with fijisun
Subscribe-to-Newspaper
Fiji Sun Instagram
Fiji Plus
Subscribe-to-Newspaper
error: