Press Release No. : 24/2012
Date : 16 August 2012
The Maritime Safety Authority of Fiji (MSAF) and the Financial Intelligence Unit (FIU) today signed a Memorandum of Understanding (MOU). The MOU would enable the exchange of relevant information and intelligence between the two parties. Through this MOU framework, the parties aim to establish and strengthen cooperation to effectively perform their respective statutory functions to implement an effective framework to detect, investigate and prosecute money laundering and other serious offences in Fiji.
The Chief Executive Officer of MSAF, Mr Neale Slack said that this MOU will enable MSAF to work closely with the FIU to ensure the safety and protection of Fiji’s maritime industry under the current and proposed new laws. Mr Slack also said that under the MOU, MSAF will be able to collaborate with the FIU to implement relevant laws and regulations. The two agencies would work together to ensure full compliance by industry stakeholders. He further said that it was important for Fiji to further strengthen enforcement of MSAF powers leading to protection of Fiji from abuse of systems and resources as well as compliance with international maritime protocols and conventions.
The Director of the FIU, Mr Razim Buksh said the MOU will strengthen the cooperation and networking between MSAF, FIU and other relevant domestic agencies in Fiji in the fight against criminal activities including offences under Fiji’s maritime laws. Mr Buksh said that the FIU is required under the Financial Transactions Reporting Act to assist law enforcement and regulatory agencies in Fiji by providing investigative as well as due diligence assistance. The FIU currently maintains over two million financial transaction information and has access to customer information held at various financial institutions. The FIU has signed similar MOUs with the Immigration Department, Fiji Police Force, Fiji Independent Commission Against Corruption, Land Transport Authority, Investment Fiji, Ministry of Justice, and Fiji Revenue and Customs Authority.
The MOU is entered between the parties pursuant to Section 25 of the Financial Transactions Reporting Act. MSAF signed an MOU with the Fiji Police Force earlier this month.