FINANCIAL INTELLIGENCE UNIT
Protecting Nauru through financial intelligence
The Financial Intelligence Unit (FIU) is a statutory body whose existence and mandate are continued by the Anti-Money Laundering and Targeted Financial Sanctions Act 2023 (Act).
WHAT WE DO
FIU is set up within the Department of Justice and Border Control and is responsible for performing its functions under the Act.
These functions include the following:
- enforcing the Act;
- supervising the compliance of reporting entities with the Act;
- receiving and analysing suspicious activity reports and other information available to it, whether by any means or under any law, in order to identify activity that may constitute or may relate to a financial crime or criminal conduct and to carry out any further investigations it considers necessary;
- disseminating information derived from analysis and reports of information received to domestic and foreign law enforcement bodies or foreign intelligence bodies;
- enquiring into conduct that constitutes as or relates to financial crime or is suspected to do so;
- conducting related inquiries, investigations, analysis and oversight;
- identifying, analysing and assessing on an ongoing basis financial crime trends, patterns and risks of relevance to the Republic, including in relation to new technologies, business practices and products;
- coordinating with supervisory authorities and other authorities in the Republic that have a role in combatting financial crime or criminal conduct;
- engaging in an arrangement, understanding or any mutual cooperation with similar foreign entities in other countries or international bodies on matters relating to financial crime or criminal conduct;
- commencing proceedings in any court established in the Republic for the purposes of enforcing any part of the Act or any other written law, in the performance of its functions;
- ensuring that reporting entities, supervisory authorities, other competent authorities and the public at large are adequately informed about the trends, patterns and risks of financial crime and the appropriate responses;
- performing other functions which may be given to the FIU by any written law, the Cabinet or the Minister.
UPDATES
Nauru has undergone its Mutual Evaluation (ME). The ME is a peer review process that measures Nauru’s compliance and effectiveness against the Financial Actions Task Force (FATF) 40 Recommendations on Money Laundering and Combatting the Financing of Terrorism and Proliferation Financing.
In preparation for the ME, FIU worked closely with the Office of the Legislative Drafter on the drafting of new laws and the amendment of existing laws. Technical assistance was also provided by the Asia Pacific Group on Money Laundering (APGML) on the drafting and amendment of laws. This was done in accordance with the requirements of the FATF Recommendations to ensure that Nauru has legislation that meet international standards.
- Anti-Money Laundering and Targeted Financial Sanctions Act 2023
- Anti-Money Laundering and Targeted Financial Sanctions (Record Keeping) Regulations 2023
- Anti-Money Laundering and Targeted Financial Sanctions (Suspicious Activity Report) Regulations 2023
- Anti-Money Laundering and Targeted Financial Sanctions (Financing of Terrorism and Proliferation Financing) Regulations 2023
- Proceeds of Crime (Amendment) Act 2023
- Proceeds of Crime (Border Declaration Form) Regulations 2023
- Proceeds of Crime (Miscellaneous) Regulations 2023
- Trusts (Trustee Duties) Regulations 2023
- Counter Terrorism and Transnational Organised Crime (Amendment of the Schedule) Regulations 2023
- Counter Terrorism and Transnational Organised Crime (Targeted Financial Sanctions) Regulations 2023
- Beneficial Ownership (Identity and Declaration) Regulations 2023
- Business Licences (Non-Operational Businesses Record Keeping) Regulations 2023
- Mutual Assistance in Criminal Matters Regulations 2023
Laws
Anti-Money Laundering and Targeted Financial Sanctions Act 2023 & Regulations
Proceeds of Crime Act 2004 & Regulations
Trusts (Trustee Duties) Regulations 2023
Counter Terrorism and Transnational Organised Crime (Amendment of the Schedule) Regulations 2023
Counter Terrorism and Transnational Organised Crime (Targeted Financial Sanctions) Regulations 2023
Beneficial Ownership Act 2017 & Regulations
Business Licences (Non-Operational Businesses Record Keeping) Regulations 2023
Mutual Assistance in Criminal Matters Act 2004 & Regulations
Publications
Update on Nauru’s Mutual Evaluation
National Strategy for Anti-Money Laundering and Combatting the Financing of Terrorism
Anti-Money Laundering and Targeted Financial Sanctions (Fit and Proper Person) Criteria 2023
Anti-Money Laundering and Targeted Financial Sanctions (Simplified Due Diligence) Guide 2023
Suspicious Activity Report Form
Border Declaration Form
Nauru Virtual Asset Service Provider Policy
Cash Border Regulation Framework Guide
Registration and Licensing of Businesses, Partnerships, Corporations, Associations, Trusts, Private Security Information Sheet
Beneficial Ownership Guide
Non-Government or Non-Profit Organisation Best Practice Guide
United Nations Security Council Consolidated List
Designated Non-Financial Business and Professions Customer Due Diligence Guideline
Anti-Money Laundering and Targeted Financial Sanctions (High Risk Countries) Guideline 2023
Nauru’s Anti-Money Laundering and Proliferation Financing National Risk Assessment 2023
Strategic Analysis 2021 to 2023
Nauru Targeted Financial Sanctions Terrorism and Proliferation Financing Guide
Extradition Guide
Mutual Assistance in Criminal Matters Guide
Nauru Maritime Administration – click here for the website
OUR TEAM
Rajas Swamy
Supervisor
Bernard Grundler
Assistant Supervisor
Roqous Aingimea
Analyst
OUR LOCATION
Financial Intelligence Unit
Department of Justice and Border Control
Ground Floor
Government Building
Yaren District
Republic of Nauru
Department of Justice and Border Control
Ground Floor
Government Building
Yaren District
Republic of Nauru