LTA joins money intelligence network

October 05, 2009 05:20:26 PM

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Fiji’s money crime specialists have just widened their investigative powers, following a signing today of a Memorandum of Agreement with the Land Transport Authority.

The Financial Intelligence Unit signed its 6th MOA since it was established in 2006, putting yet another notch on its powers to access personal information and compile financial profiles of people suspected to be carrying out financial crimes in the country. 

“LTA joins the network that includes the Immigration Department, the Fiji Islands Revenue and Customs Authority, Fiji Police Force, the Fiji Islands Trade and Investment Bureau and the Ministry of Justice.

The MOA will ensure timely exchanges and sharing of intelligence and information between the FIU and the LTA,” the FIU said in a statement.

The FIU is a key government agency tasked to spearhead Fiji’s fight against money laundering and terrorist financing when it was established in 2006 under the Financial Transaction Reporting Act of 2004.

Since then, it has become a formidable force in the gathering financial information, with powers to access information on every financial transaction carried out across Fiji’s financial institutions, including banks, accounting firms, law firms, real estate companies and superannuation funds among others.

FIU director Razim Buksh had told Fiji Live that there were plans to sign MOAs with other domestic partner agencies, with the LTA being the latest.

Today, he stressed that strong inter-agency coordination are the key to combating today’s ever-changing criminal environment.

LTA’s chief executive officer Etuate Koroi sad he was happy with the signing of the MOA, saying it would help it “crack-down” on traffic offenders.

The FIU recently released its 2008 annual report in which it revealed an increase in the number of “suspicious financial transactions,” valued at a total $19.2 million, possibly linked to money laundering activities in the country.