Fiji

New Documents

The Financial Intelligence Unit of Fiji highlighted possible scams involving unregulated cryptocurrency trading and illegal pyramid selling schemes that have come to the attention of the regulator.

The Asia/Pacific Group on Money Laundering issued a fourth follow-up report on Fiji’s progress to strengthen anti-money laundering and counterterrorist financing compliance since the adoption of the jurisdiction’s mutual evaluation report in 2016.

News

Enforcement Actions

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Important Facts

  • The U.S. State Department identifies Fiji as a monitored jurisdiction. The Republic of Fiji is not a regional financial center but serves as a regional hub for transportation and shipping for other Pacific island nations. In addition, Fiji's geographical location makes it a convenient staging point for criminal activities in Australia and New Zealand. Cross-border criminal gangs involving individuals from neighboring Asian countries also operate in Fiji. The government declared certain areas tax free zones that include breaks for corporations. There are no casinos currently operating.
  • KYC Covered Entities: Banks, foreign exchange dealers, money remittance service providers, finance companies, law firms, real estate agencies, accountants, insurance companies, and superannuation funds
  • STR Covered Entities:  Banks, money remittance service providers, finance companies, regulatory authorities, law firms, real estate businesses, accounting firms, insurance companies, and superannuation funds
  • Enhanced Due Diligence Procedures for PEPs: Foreign: Yes; Domestic: Yes
  • Money Laundering Criminal Prosecutions/Convictions: Prosecutions: 3 (2014); Convictions: 1 (January – November 2014)
Source: 2016 International Narcotics Control Strategy Report (INCSR)

Rankings

FATF i | 2013 Methodology

Technical Effectiveness
Compliant : 12 High : 0
Largely Compliant : 22 Substantial : 0
Partially Compliant : 6 Moderate : 6
Non-Compliant : 0 Low : 5

Fiji's technical compliance was re-rated in a Aug. 6, 2019 follow-up report

BASEL i

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TRANSPARENCY INTERNATIONAL i

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Tax Justice Network i

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