Fiji Time: 4:15 AM on Sunday 24 September

Fiji Times Logo

/ Front page / News

Currency smuggling trend

Tevita Vuibau
Monday, July 14, 2014

CURRENCY smuggling has been identified by the Financial Intelligence Unit as an emerging money laundering trend in Fiji.

The largest case recorded by the FIU and border officials in 2013 involved a combined $76,648.58 in assorted currencies that were not declared by two inbound passengers from the Solomon Islands.

Under the Financial Transactions Reporting Act, travelers must declare if they are carrying $10,000 or above in cash when arriving or departing from Fiji.

One of the passengers inbound from the Solomon Islands was caught with $US18,011 ($F32,434 and other currencies while the other was caught trying to bring in $A21,260 ($F34,163), EUR 3640 ($F8526) and other assorted currencies.

The FIU said there were 16 cases of persons failing to declare currency in 2013 with two individuals given the maximum fine of $10,000 for not declaring their currency in excess of $10,000.

The FIU report also noted that 117 declarations were made by inbound travellers in 2012 compared with 141 in 2013.

A further 318 declarations were made by outbound travellers in 2012 compared with 360 in 2013.

Altogether $22.1million was declared by travellers in 2013 compared with $14.6m in 2012.

Other money laundering trends noticed by the FIU included the use of false identification cards however, this trend is declining.

"The FIU has noted a decrease in the number of cases involving fake identification cards such as passports, birth certificates.

"This is due to some recent measures undertaken by the relevant authorities in Fiji."








Fiji Times Front Page Thumbnail

Kaila Front Page ThumbnailFiji Times & Kaila Frontpage PDF Downloads

Use the free Acrobat Reader to view.

Westpac
Code Inward TTs Outward TTs
CAD 0.61690.5979
JPY 56.853253.8532
GBP 0.36700.3590
EUR 0.41880.4068
NZD 0.69110.6581
AUD 0.63360.6086
USD 0.50190.4849

from

$0.00

Exchange Rate updated on 22nd, August, 2017

Today's Most Read Stories

  1. A sad graduation for Waqatakirewa
  2. A-G: Pay overtime
  3. Mine land claim
  4. Leaders disagree
  5. Sedition accused guilty
  6. iTaukei women told to be proud of their identity
  7. 'Keep Diwali sacred'
  8. Velovelo residents could become permanent leaseholders
  9. Union berates State
  10. Families resort to muddy water

Top Stories this Week

  1. A sad graduation for Waqatakirewa Saturday (23 Sep)
  2. The fee to kill Tuesday (19 Sep)
  3. $16k dream holiday Monday (18 Sep)
  4. Mysteries of the floating island Wednesday (20 Sep)
  5. Head teacher in court for sexual assault Monday (18 Sep)
  6. Pay rise deal Wednesday (20 Sep)
  7. Man freed from prison Tuesday (19 Sep)
  8. Resort's legacy Thursday (21 Sep)
  9. Murder suspects further remanded Monday (18 Sep)
  10. Planned water disruption advisory for Suva Wednesday (20 Sep)