Please provide an overview of Fiji’s exposure to money laundering.
This short answer provides a brief overview over Fiji’s exposure to money laundering risks.
Nature of money laundering and terrorist financing risks
Prevalence of money laundering issues
Fiji’s AML-TF regime and FATF status
EU’s list of non-cooperative tax jurisdictions
Fiji’s financial and real estate sectors are vulnerable to money laundering of proceedings from narco-trafficking, corruption, and tax evasion. Every year, around 100 million Fijian dollars (approx.. US $46 million) are believed to be laundered via financial institutions.
While the Government of Fiji has taken some steps to improve the national AML-TF regime in recent years, there are still gaps to be addressed.
Fiji is currently listed on the EU blacklist of non-cooperative tax jurisdictions.