2 Dec 2004

Solomons passes act against money laundering

9:39 am on 2 December 2004

The Solomon Islands Parliament has passed the 2002 Money Laundering and Proceeds of Crime Act, paving the way for the establishment of a Financial Intelligence Unit within the Central Bank.

The Minister for Police, National Security, Justice and Legal Affairs, Michael Maina, says the amendment will enable Solomon Islands to immediately monitor and act against money laundering.

Mr Maina says the amendment to the act follows recommendations by the International Monetary Fund that sent a delegation to the country earlier this year.

He says it also signals the government's commitment to join in regional and international efforts to combat and prevent related crimes.