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OC signs MOU with FASU OF BPNG

The Ombudsman Commission welcomes alliances and newer ways in its fight against corruption in Papua New Guinea.

The Financial Analysis & Supervision Unit (FASU) of the Bank of Papua New Guinea (BPNG) signed a Memorandum of Understanding (MOU) on Information Sharing and Mutual Co-operation on Thursday 28 February 2019 with the Ombudsman Commission of Papua New Guinea (OCPNG) as part of its initiative to fight corruption in the country.

The Commission welcomed the partnership saying it takes two or more parties to fight corruption. The MOU will greatly assist in sourcing information from relevant entities like the commercial banks which has always been a challenge for the Commission’s investigation processes.

The FASU of the BPNG is established under the Anti-Money Laundering and Counter Terrorist Financing (AML/CTF) Act 2015. It is responsible for carrying out financial intelligence and analysis including maintaining the intelligence database and also supervising reporting entities and enforcing compliance with the AML/CTF Act.

The setting up of FASU is PNG’s commitment to complying with the Financial Action Task Force (FATF) standards and the establishment of PNG’s anti-money laundering and counter terrorist financing regime. These commitments also led to the review of the Proceeds of Crimes Act 2005, where, as a result, five other AML/CTF regime laws were gazetted in 2016 including the AMLF Act.

“FASU has a process of making sure all government agencies are aware of their role in fighting AML,” said Benny Popoita, Director FASU.

Mr Popoita said FASU has been working closely with civil servants and that is where the Ombudsman Commission comes in.

Wilson Onea, Deputy Director FASU in addition, assured the Commission to provide support through FASU’s intelligence gathering role to assist the Commission in its investigation process.

Chief Ombudsman Michael Dick whilst commending FASU and BPNG said, “corruption comes in all sizes, forms, colours, and textures. If corruption has to stop somewhere, it has to first start with us as individuals. This MOU there for is a way forward in our efforts in fighting corruption.”

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