Fiji Country Summary

FATF Status

Fiji is not on the FATF List of Countries that have been identified as having strategic AML deficiencies

Compliance with FATF Recommendations

The last follow-up Mutual Evaluation Report relating to the implementation of anti-money laundering and counter-terrorist financing standards in Fiji was undertaken in 2023. According to that Evaluation, Fiji was deemed Compliant for 13 and Largely Compliant for 21 of the FATF 40 Recommendations. It remains Highly effective for 0 and Substantially Effective for 0 of the Effectiveness & Technical Compliance ratings.

Fiji faces challenges related to corruption, with the legal framework in place to penalize corrupt activities, yet cases often progress slowly due to personal relationships influencing decisions in both business and government. The Fiji Independent Commission Against Corruption (FICAC) has been active in investigating high-profile cases, including recent convictions of former government officials, indicating a degree of resilience in combating corruption despite ongoing systemic issues.

Fiji serves as the economic and academic center of the South Pacific, with its economy rebounding strongly post-pandemic, primarily driven by tourism and remittances. Despite this recovery, growth is expected to slow to 3.4% in 2024 due to declining travel demand and capacity constraints in the tourism sector, necessitating increased investment and diversification in tourism activities, especially in outer islands. The Fijian government actively encourages foreign investment through reforms aimed at improving the business environment, although challenges such as high debt levels, labor shortages, and bureaucratic hurdles remain significant risks to sustained economic growth.