Policy Advisories on the FTR Act

FIU Policy Advisory 1/2020 - Removal of Business License Requirement under the FTR Regulations
The purpose of this Policy Advisory is to provide further guidance and clarification on the removal of the business licence certificate from the customer due diligence requirement under the Financial Transactions Reporting (FTR) Regulations.

FIU Policy Advisory 1/2019 - Establishing Source of Funds
The purpose of this Policy Advisory is to provide further guidance and clarification on establishing a customer’s source of funds.

Advisory 2/2018 - Change in Account Name for Existing Private Companies
To provide clarification on the customer due diligence (CDD) requirements under the Financial Transactions Reporting (FTR) Act and how it aligns to the requirements under the Companies Act on changes to names of existing Private Companies.

Advisory 1/2018 - Parenthood Assistance Payment Programme
To provide clarification on the application of CDD requirements on bank account opening for recipients of the Parenthood Assistance Payment Programme.

Advisory 1/2013 - FNPF & FRCA Joint ID Card for Verification of Customers
Financial institutions can now use the new FNPF/FRCA Joint Identification Card as a key identification document as part of Fiji’s customer due diligence and know your customer requirements.

FIU Advisory 1/2012 - Subsequent Reporting of Suspicious Transactions
This Advisory aims to provide clarification on the need for continuous reporting of customers who have been previously reported to the FIU as engaging in suspicious transactions.

Advisory 2/2012 Voter Identification Card
The purpose of this Policy Advisory is to advise financial institutions covered under the Financial Transaction Reporting (FTR) Act of the inclusion of the Republic of Fiji Voter Identification Card for identification and verification of their customers and clients.

Advisory 1/2010 - Identification and Verification of a Customer's Signature
The purpose of this advisory is to provide revisions on Policy Advisory 3/2007 which was issued on 26 April 2007. Policy Advisory 3/2007 provides guidance on the requirement under section 8 of the Financial Transactions Reporting Regulations for financial institutions to identify and verify a customer’s signature when they first open an account or establish a business relationship with the financial institution or when a customer conducts an occasional transaction.

Advisory 2/2010 - Use of Referee Letter to Verify a Customer's Identity
The purpose of this Advisory is to provide advice and clarification on customer identification requirements under the Financial Transactions Reporting (FTR) Act for financial institutions that rely on a referee letter for verifying a customer’s identity.

Advisory 3/2010 - Refugee Identity Card
The purpose of this advisory is to advise financial institutions of the identification documents pertaining to customers who have been granted Asylum Seeker and Refugee status by the Fiji Government.

Advisory 4/2010 - Identification of Customers of Telephone Financial Services
This Advisory is applicable to telephone service providers that also provide mobile banking and other financial services to customers. This Advisory also applies to the agents of the telephone service providers when providing mobile banking and other financial services on behalf of the telephone service provider.

Advisory 1/2008- Identification & Verification of Customers for Insurance Companies & Intermediaries
The purpose of this advisory is to provide further guidance to insurance companies, brokers and agents on their obligations to identify and verify their customers’ identity.

Advisory 2/2008:Employer Funded Group Life Insurance Policies
The purpose of this advisory is to provide guidance on how insurance companies and intermediaries can apply the identification requirements to clients of employer funded group life insurance policies.

Advisory 1/2007 - CDD of Existing Customers' Accounts
The purpose of this advisory is to explain how and when due diligence is to be applied to existing customers of financial institutions.

Advisory 2/2007 - CDD of customers who have insufficient or no official identification documents
The purpose of this advisory is to provide further guidance on how due diligence is to be applied to new customers who have insufficient or no official identification documents.

Advisory 3/2007 - Identification and Verification of a Customer's Signature
The purpose of this advisory is to provide further guidance on how to identify and verify a customer’s signature.

Advisory 4/2007 - Identification and Verification of Occasional Transactions
The purpose of this advisory is to provide further guidance on how to identify and verify occasional customers.

Advisory 5/2007 - Risk Based Approach
The purpose of this advisory is to provide guidance on how to apply the FTR Act and Regulations on a risk based approach.

Advisory 7/2007 - Record Keeping
The purpose of this advisory is to provide further guidance on the record keeping requirements of the FTR Act.