Minister for Justice, Siromi Turaga says addressing the challenges posed by money laundering and terrorism financing is critical due to their complex and evolving nature as criminal organisations exploit vulnerabilities in our financial system, posing risks to both economic stability and societal well-being.
While speaking in support of the 2024-2025 National Budget, Turaga says to counteract these threats, the Ministry is making a strategic investment in APG - Asia-Pacific Group, money laundering subscriptions.
He says their commitment extends to the strengthening and regulatory framework, ensuring rigorous oversight, compliance with international standards.
Turaga says implementation of recommendations from the Financial Action Task Force is pivotal in enhancing transparency and accountability across financial transactions.
He says the Asia-Pacific Group provides additional technical assistance aimed at improving the non-profit sector through a risk-based approach.
The Minister says moving forward, they remain dedicated to collaboration with international partners and organisations to bolster their technical capabilities in detecting and preventing money laundering and terrorism financing.
He says public awareness plays a pivotal role in combating these illicit activities and this why they will launch educational campaigns at increasing awareness among citizens, businesses, non-profit organizations about the crucial roles and responsibilities in preventing money laundering and terrorism financing.
The Minister of Justice adds he will work closely and lend his support to the work of the Narcotics Bureau and other relevant stakeholders to ensure that the present future generations of Fiji are safe from the scourge of drug trade and drug abuse.
