ANYONE intending to conduct illegal financial transactions or launder money through Fiji would have to think twice.
This was the warning issued by the director of the Financial Intelligence Unit (FIU) Razim Buksh, while speaking at the Proceeds of Crime: Follow the Money Workshop in Nadi.
Mr Buksh said all financial transactions in and out of the country were scrutinised and financial institutions were also obliged to report suspicious activities.
"All funds coming and going are being monitored by the FIU and it is an obligation under the Financial Transactions Reporting Act that all remittances, immaterial of where it's coming from or where the funds are going through or what the dollar value is, have to be reported by financial institutions to the FIU," he said.
Mr Buksh said in the past, financial institutions that came under the radar included commercial banks and lending organisations but because of the complexities of money laundering in recent times, financial transaction agencies like Western Union, Moneygramm and mobile platforms like MPaisa and Digicel's Mobile Money were also mandated to report suspicious activity.
"Technology is at our disposal and also at the disposal of criminals and people can move money, shift money and conduct financial transactions at the mere push of a button."
"Internet banking also poses another challenge as it becomes more prevalent in Fiji.
"People can do transactions between accounts, within accounts and transactions with other entities and parties and these transactions need to be monitored," said Mr Buksh.