U4 Anti-Corruption Resource Centre

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

  1. Nature of money laundering and terrorist financing risks
  2. Prevalence of money laundering issues
  3. Fiji’s AML-TF regime and FATF status
  4. 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, tihelpdesk@transparency.org

Reviewer(s)

Matthew Jenkins, Transparency International

Date

02/04/2020

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