29 January, 2022, 8:19 pm Central - 24°C Rain

Investigations underway into illegal funds circulating the country

Investigations underway into illegal funds circulating the country

By fijivillage.com
Friday 24/05/2013
Investigations are underway in relation to a number of cases of money laundering, tax evasion and funding illegal activities as over $300 million has been circulating in the country over the past three years.

Fiji Revenue and Customs Authority CEO Jitoko Tikolevu said they are looking at different means on how this money has been circulating.

He added they are aware how people are circulating this illegal money.

Tikolevu believes with the introduction of the new ‘unexplained wealth’ provisions in the Proceeds of the Crime Amendment Decree of 2012 they will be able to deal with this issue.

For the purposes of this Decree, a person has unexplained wealth if the value of the person’s total wealth is greater than the value of the person’s lawfully acquired wealth.

The change in the law puts burden of proof on the person to provide a satisfactory explanation to the court as to how he or she was able to maintain such a standard of living or how such pecuniary resources or property came under his or her control.

Before police needed to investigate to find out how people got the money.

Tikolevu said they will now have additional powers to forfeit any undeclared income as unexplained wealth.
The Director of the Fiji Financial Intelligence Unit Razim Buksh says the new unexplained wealth provisions enables the court to confiscate any property or benefit that is owned or controlled by a person that cannot be reasonably explained in relation to the lawful income of that person.

Buksh added Police now can shorten the investigation time of such cases.

Commissioner of Police Brigadier General Ioane Naivalurua said they have committed substantial resources in investigating complex financial crimes as they have specialized units like the Anti-Money Laundering Investigation Unit, the Cyber-Crime Unit and the Transnational Crime Unit.

Story by: Ronal Deo & Akuila Cama

Stay tuned for the latest news on our radio stations

CFL radio frequencies
Current increase in COVID-19 cases represents the beginning of the third wave of COVID-19 in Fiji - Dr Fong
Doctor Fong confirms we have the Omicron variant of COVID-19 in the community as cases continue to rise during this 3rd wave of COVID-19 in ...
3 days ago

New COVID variant Omicron emerges in different parts of the world
WHO labels new COVID strain named omicron a variant of concern
16 days ago

Fiji continues to be affected by COVID-19
Contact tracing continues for most parts of Suva and Nausori. Mon 19th Apr Tue 20th Apr Wed 21st Apr Thu 22nd Apr Sat 24th Apr Sun ...
30 days ago
No arrests yet in the 2 cases of alleged sacrilege at Hindu temples in Nausori
Police investigations are still ongoing in relation to the separate cases of alleged sacrilege in Nausori on Thursday where two Hindu temples in Baule...
4 hours ago
FNUSA raises concerns about Tabuya & makes claims about NFP supporters after cyberbullying against Ketan Lal
The Fiji National University Students Association has raised concerns about People's Alliance member Lynda Tabuya and has also asked the NFP to talk ...
3 hours ago

Baulevu Temple incident is shocking and unacceptable - Rabuka
People's Alliance Party Leader Sitiveni Rabuka says the alleged act of sacrilege at the Nav Durga Temple in Baulevu, Nausori is shocking and ...
7 hours ago

Chris Brown accused of drugging and raping woman on a yacht
Chris Brown has been accused of drugging and raping a woman and is being sued for $US20 million. BBC News reports the alleged assault reportedly ...
7 hours ago

I will review the situation for curfew – Dr Fong
Permanent Secretary for Health Dr James Fong says he will review the situation for curfew. He made this comment to fijivillage after we ...
7 hours ago

Break-in at the Vuci Mahadevi Temple in Nausori
There has been another break-in at a temple in Nausori as residents of Vuci have informed us that someone broke into the Vuci Mahadevi Temple on ...
8 hours ago