Regulatory Alerts2020-03-22
Notice to Customers of Financial Institutions Regarding Customer Identification Requirements
The Fiji Financial Intelligence Unit mandates that all financial institutions in Fiji must identify customers and verify their personal details for every transaction starting January 1, 2008. This requirement, enforced under the Financial Transactions Reporting Act of 2004, applies to a wide range of service providers including banks, insurance companies, and law firms to combat money laundering. Customers are required to provide valid identification documents such as passports or driver's licenses, regardless of their existing account history, to help protect the national financial system from criminal exploitation.
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