This Anti-Corruption Helpdesk brief was produced in response to a query from a U4 Partner Agency. The U4 Helpdesk is operated by Transparency International in collaboration with the U4 Anti-Corruption Resource Centre based at the Chr. Michelsen Institute.
Query
Please provide an overview of Fiji’s exposure to money laundering.
Summary
This short answer provides a brief overview over Fiji’s exposure to money laundering risks.
Contents
- 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
Main Points
- 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.
Authors
Mathias Bak, [email protected]
Reviewer(s)
Matthew Jenkins, Transparency International
Date
02/04/2020
Tags
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