Vanuatu Financial Intelligence Unit strengthens its goal against Money Laundering and Terrorism activities.

The Vanuatu Financial Intelligence Unit (FIU) has reinforced it’s fight against Money laundering and Terrorism activities with its adoption of United Nations Financial Sanctions Act No. 6 of 2017 & Guidance Note to the Reporting Entities & the Public regarding the United Nations Financial Sanctions Act No. 6 of 2017 (the UNFS Act).

In a workshop hosted by the FIU dated 22nd of March, 2018, various organisations were presented with many concerns and potential risks in which Vanuatu faces as it progresses towards better enforcement of legislation such as the Anti-Money Laundering and Counter-Terrorism Financing Act No. 13 of 2014 and its regulations.

One of the most important agendas in which was pushed, was for organisations to be aware of the customer and client base in which it would engage (DUE DILIGENCE IS A MUST). The FIU further provided that all persons, organisations and other entities in which are listed in the UN Financial Sanctions List are NOT to be engaged by any Local company, or organisation. Additionally, the FIU has a Local Listing of designated persons on there website (FIU website link is available on the External Links) whom local companies and organisations should be up-to-date with.

 

 

 

 

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