THE Fiji Financial Intelligence Unit (FIU) disseminated 418 intelligence reports on 952 individuals and 384 entities to its law enforcement partners in 2021, says director Razim Buksh.
“The Fiji FIU has disrupted hundreds of cyber scam and fraudulent transactions in Fiji,” he said in a media statement issued Wednesday to mark the launch of its latest data security, analysis and sorting tool called TAIPAN.
“The Fiji FIU has also identified several hundred foreign cybercriminals and their syndicates that have been black-listed from receiving funds from Fiji.”
Mr Buksh said 61 designated officers of FIU’s key networking and law enforcement partner agencies had direct access to FIU’s technology system.
“This access significantly contributes to the preliminary financial analysis and profiling of individuals and entities that are subject to the agencies’ investigation of serious offences, namely, fraud, cybercrime, drug trafficking, tax evasion, corruption and other financial criminal activities.”
Fiji FIU’s online reporting and data analytics initiative was first developed and implemented from 2006 to 2007 with the technical and financial assistance of AUSTRAC, Australia’s financial intelligence agency and regulator, with funding from the Australian government.
AUSTRAC deputy CEO Intelligence Dr John Moss said transnational crime syndicates had targeted the Pacific, with new technologies increasing the threat.
“AUSTRAC’s partnership with Fiji will help to build financial intelligence capability, and ensure Pacific Islands are not seen by criminals as soft targets to launder criminal proceeds,” he said.
“AUSTRAC is focused on keeping Australia’s financial systems free from criminal and national security threats.
“Given Australia’s physical proximity to the Pacific, financial security cannot be seen in isolation.
“Sharing financial intelligence, tradecraft and tools is critical, so that as a region the Pacific is resistant to threats which undermine collective financial security and community safety.
“The TAIPAN system that AUSTRAC has provided, will give Fiji and other Pacific partners, an enhanced collective ability to detect and analyse complex money laundering in the region through innovative triage and interrogation of bulk data.”
