Fiji Time: 2:11 PM on Wednesday 26 October

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Bank closes accounts for MRS providers

Wednesday, May 14, 2014

Update: 12:30PM ANZs decision to close the bank accounts of money remittance services providers (MRSPs) was a global business move based on their assessment of money laundering risks, says Fiji Financial Intelligence Unit director Razim Buksh.

Mr Buksh said Fiji had adequate laws and institutional measures in place to combat money laundering and terrorist financing.

He said further consideration may need to be given to Fiji's strong regulatory framework for anti-money laundering in which MRSPs operate in Fiji.

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