Vision,Strategic Pillars & Key Strategies

VISION

“Protecting Fiji from Money Laundering” 
 

STRATEGIC PILLARS

The strategic pillars that support our vision are:

1. Financial Intelligence
2. Preventive Measures
3. Technology Driven Processes
4. Partnerships
5. Our People 

KEY STRATEGIES

1. Develop and disseminate quality intelligence products for our stakeholders.
2. Improve the quality and use of our intelligence products.
3. Promote the understanding of money laundering risks and methods in Fiji.
4. Promote a risk based implementation of the preventive measures under the FTR Act.
5. Enhance financial institutions and businesses understanding of their obligations under the FTR Act.
6. Effectively supervise financial institutions and businesses for compliance with the FTR Act and take appropriate enforcement action in case of non-compliance.
7. Effective data reporting.
8. Develop innovative data management systems and analytic tools.
9. Improve data quality and information security.
10. Enhance our network for information sharing.
11. Strengthen relationships with domestic and international partners.
12. Provide support to international partners on AML/CFT initiatives and engagements.
13. Cultivate a skilled, motivated and high performing team.
14. Ensure corporate governance through strong internal controls and performance reporting.

 
Establishment of the FIU, Role and Functions
The FIU was established in 2006 under the FTR Act. The FIU has the following five broad functional responsibilities:
 

• Collecting and Analysing Financial Transactions and Other Information;
• Disseminating Financial Intelligence;
• AML/CFT Regulatory and Compliance;
• Public Education and Awareness;
• Domestic and International Coordination

 
These FIU functions directly contribute to combating money laundering, terrorism financing and other serious crimes in Fiji and to ensure the safety and integrity of Fiji’s financial system.
 
The powers, duties and functions are clearly defined in the FTR Act. These are, to: 

• Receive financial transaction and other information from financial institutions;
• Analyse information and develop intelligence;
• Disseminate intelligence and information of possible money laundering activities or other serious offences to appropriate law enforcement agencies;
• Assist domestic and foreign law enforcement agencies in their investigation and prosecution of money laundering and other serious criminal activities;
• Develop policies, guidelines and advisories under the FTR Act;
• Enforce compliance by financial institutions with the requirements of the FTR Act;
• Provide awareness and training to financial institutions, members of the public, and other stakeholders on the requirements in the FTR Act and on matters relating to money laundering; and
• Maintain strong networking with domestic and foreign partner stakeholders and agencies.

 
The Director of the FIU is responsible for exercising the powers, duties and functions of the FIU as specified in the FTR Act.