As the first meeting of the National Anti-Money Laundering Council was held this morning, it has been revealed that over 1000 suspicious transactions are being investigated by the Financial Intelligence Unit.
Speaking at a press conference soon after the meeting, head of the Financial Intelligence Unit Nazim Buksh confirmed that many of these cases have been forwarded to the DPP to determine if charges can be laid.
Chairman of the National Anti-Money Laundering Council, Permanent Secretary for Justice Pio Tikoduadua stressed that it is becoming more vital to have strong laws in place to deal with anti-money laundering.
The Anti-Money Laundering Council will provide advice on the national implementation of the Financial Transactions Reporting Act which came into effect on January 1st, 2008.
Unit Investigates Suspicious Transactions
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