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Fiji Completes National Risk Assessment on Money Laundering and Terrorist Financing

A national risk assessment was conducted by the National AML Council as part of Fiji’s antimoney laundering (AML) and combating the financing of terrorism (CFT) program. Director of the Financial Intelligence Unit (FIU) Razim Buksh said: The outcomes of the NRA will assist the National AML Council and its members to better understand ML and […]

Verleshwar Singh

September 5, 2015 6:48 am

A national risk assessment was conducted by the National AML Council as part of Fiji’s antimoney
laundering (AML) and combating the financing of terrorism (CFT) program.

Director of the Financial Intelligence Unit (FIU) Razim Buksh said:

The outcomes of the NRA will assist the National AML Council and its members to better understand ML and FT risks and prioritise resources to mitigate these risks more effectively. Mr Buksh said that outcomes will be also used by the commercial banks and other financial institutions to develop their AML/CFT programs based on risks and vulnerabilities identified in the NRA report.

The NRA report noted that Fiji has the basis of a very good AML and CFT program. All necessary legislation has been introduced, AML/CFT supervisors are operational, cases have been investigated and a number of ML cases have been before the courts and penalties applied.

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