Attorney General Gabriel Suri, who is chairman of the Anti-Money Laundering Commission, made the remarks at a three-day Anti-Money Laundering and Counter Terrorism Financial workshop in Honiara.
He said money laundering and terrorist financing are certainly matters of global concern.
“We have heard or read about in recent years how money launderers have exploited differences among national anti-money laundering systems and move their funds to jurisdictions with weak or ineffective laws,” Suri said.
“We have also seen, heard or read about the presence of illicit funds can damage the integrity of financial institutions and financial system that have weaker laws.
“Solomon Islands too, like other countries, is not immune to money laundering activities and must remain vigilant at all times,” he said.
Suri said to remain vigilant in this context means to keep abreast with latest effective supervisory oversight for preventative measures.
This is to ensure our institutions comply with the anti-money laundering requirements, given the rising trend and increasing complexity of money laundering network in recent years.
“As a member of the international community against money laundering, it is important to have a satisfactory rating at the end of this intensive process.
“It is also equally important that in the bigger picture we ensure that Solomon Islands attain a safe and sound financial system that is free from financial crime and other forms of money laundering and terrorist financing,” Suri said.
The workshop, held at Lelei Resort, was organized by the Asia Pacific Group on Money laundering, the Anti-Money Laundering Assistant Team of the Australian Attorney General, with assistance by the Financial Intelligence Unit.
