The signing took place on the 21st October 2016 allowing the secondment of a Customs and Inland Revenue Officer to the Vanuatu Financial Intelligence Unit for 6 months.
As explained by Director of FIU, Mr. Floyd Mera, the secondment agreement will enhance and foster closer cooperation between the Department of Customs and Inland Revenue (“DCIR”) and the Vanuatu Financial Intelligence Unit (“VFIU”).
The secondment agreement is a direct response to Vanuatu’s grey listing by the FATF early this year and aims to rectify deficiencies noted in both VFIU and DCIR. Both institutions will benefit in that VFIU urgently requires additional staff resources and DCIR requires an increased appreciation of financial intelligence.
Director Malas reiterated the need to increase cooperation and that he has committed his Department to the agreement in last month’s 3rd Face-to-Face meeting with FATF. The Attorney General Loughman echoed the need to increase resources within the VFIU in response to the FATF grey listing.
The DCIR Officer will commence his secondment/attachment with the VFIU on 1st November 2016 and will assist the VFIU in receiving, assessing and analysing information and disclosing intelligence to law enforcement agencies.