Fiji Financial Transactions Reporting Act

The Fiji Financial Transactions Reporting Act became effective in 2004. The Act is intended to encourage foreign investment and prevent money laundering by strengthening investors’ confidence in the Fijian economy. Under the Act, the Financial Intelligence Unit has the responsibility to oversee the implementation of the law and provide regular reports to relevant law enforcement agencies.

The following questions have been addressed in this article:

To what financial institutions does the FTRA apply?
What is the role of the FIU in overseeing the implementation of the FTRA?
How does FTRA impact the privacy of financial transactions in Fiji?

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