Pacific money-laundering laws under revison

Legislative drafting experts from across the Pacific met law enforcement officials in Auckland last week to revise the Pacific Island Forum’s model provisions on combatting terrorist financing and money laundering.

The Forum said the need for revision reflects developments at the United Nations and with the international body devoted to stamping out the financing of terror, the Financial Action Task Force.

The Forum Secretariat’s Nola Faasau said while the threat of terrorism in the Pacific is low, vigilance is still required.

“The challenges posed to our region are quite unique. they are considered to be low and this has been the ongoing consideration of the Pacific Forum Regional Security Committee every year, but the importance is that every country remains vigilant to the risks that are posed by terorist groups particularly in terms of the financing areas.”

Nola Faasau said the Forum Regional Security Committee meets in early June to consider the revisions.

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