Fiji Fiji

New Documents

Fiji FIU Issues Guidance on Applying eKYC

The Fiji Financial Intelligence Unit issued Guideline 10, which offers insight into regulated entities’ obligations under the Financial Transactions Reporting Act.

April 2, 2024

Fiji National AML Council Commits to Enhancing AML/CTF Measures

 The Fiji Financial Intelligence Unit issued a notice highlighting a commitment by the National Anti-Money Laundering Council to combat financial crime.

March 21, 2024

Fiji FIU Highlights FATF Statements on AML/CTF-Deficient Countries

March 21, 2024

Fiji FIU Issues Guidance on eKYC Usage

January 23, 2024

Fiji NAMLC Shares ML/TF Threat Assessment of Banking Sector

January 9, 2024

News

Weekly Roundup: US Officials Mull AML Rules for Investment Advisers, Cryptocurrency Remains Top US Enforcement Priority, and More

Puerto Rican bank settles OFAC violations, FDIC tags North Carolina-based savings bank, and more, in the weekly roundup.

May 27, 2022

Weekly Roundup: US Official Threatens Secondary Sanctions, SEC Tags Wells Fargo, and More

U.S. seizure of Russian superyacht in doubt, FinCEN set to receive more funding, and more, in the weekly roundup.

May 20, 2022

Midweek Roundup: US Lawmakers Target Trade-based Laundering, Smaller EU Nations Fall Below AML Standards, and More

May 4, 2022

Legal Brief: International Campaign Against Russian Yachts, Other Assets Continues

April 27, 2022

Midweek Roundup: Standard Chartered Rescreens Clients, London Lender Settles Sudan Sanctions Violations, and More

September 18, 2019

Enforcement Actions

0 Items Found

Key Documents

Fiji Government Releases 2012 Amendment of Proceeds of Crime Act

September 14, 2012

Fiji Issues Its Proceeds of Crime Act

December 24, 1997

Fiji Passes Financial Transactions Reporting Act 2004

December 23, 2004

Fiji Enacts Its Banking Act

March 8, 1995

Fiji Issues Transaction Reporting Regulations

April 30, 2007

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

Rank : 69/110
Score : 5.56/10

TRANSPARENCY INTERNATIONAL i

Rank : N/A
Score : N/A

Tax Justice Network i

Rank : N/A
Score : N/A