Financial institutions in the country are urged to report suspicious financial transactions quickly to ensure money laundering offences are detected.
Governor Reserve Bank Barry Whiteside made the comments during the 3rd National Anti Money Laundering Conference at the Holiday Inn in Suva yesterday afternoon.
Whiteside said prosecution should be stepped up to tackle money laundering offences.
However, Director of Public Prosecutions Ayesha Jinasena said there are several challenges which they face while handling money laundering cases.
They have to balance the rights of the victim with the rights of the accused.
She said prosecution of these cases should be done without any delays.
Meanwhile, other panelists who spoke yesterday included Chairman of the Association of Banks in Fiji Norman Wilson, Director Financial Intelligence Unit Razim Buksh, Assistant Police Commissioner Henry Brown and High Court Judge Justice Sitambaram-pillai Thurairaja.
The Conference ended yesterday.
Story by: Ronal Deo
Financial institutions urged to report suspicious financial transactions
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