Press Release No. : 08/2020
Date : 19 March 2020
The Financial Intelligence Unit (FIU) and Post Fiji Pte Limited signed a Memorandum of Understanding (MOU) today.
The MOU will establish an effective framework to detect and investigate financial crimes, such as, money laundering and remittance scams in Fiji.
The Chief Executive Officer of Post Fiji Pte Limited, Dr Anirudha Bansod, said that Post Fiji is pleased to sign this MOU, where Post Fiji can provide information and details to FIU on a case to case basis. In considering the safety and security of all Fiji residents, the Post Fiji Chairman, Board and Management are committed to preventing criminals from abusing Post Fiji’s services. Hence, it is important to share the required information to FIU, which is a statutory body the Government of Fiji. Post Fiji will continue to ensure that the safety, privacy and security of Fiji residents are maintained.
Director of the Financial Intelligence Unit, Mr Razim Buksh, said that the MOU will greatly assist the FIU to access additional information, such as, money order transactions and postal services data when conducting intelligence analysis.
This will further strengthen the FIU’s intelligence, networking and profiling capabilities. Mr Buksh said the partnership with Post Fiji is another important step in “protecting Fiji from money laundering.”
The Financial Transactions Reporting Act enables the FIU to enter into such arrangements. The FIU has signed similar MOUs with 12 other agencies and stakeholders. The FIU also has networking and information exchange arrangements with 163 FIUs internationally.