71. Is it specified that a particular institution(s) is responsible for investigating money laundering that relates to political parties, candidates and elected officials?

Papua New Guinea

Papua New Guinea

Answer
Other
Source

Subdivision 1. - Establishment of Financial Analysis and Supervision Unit.

61. ESTABLISHMENT OF FASU.

(1) FASU is established within the Bank of Papua New Guinea.

  1. FASU shall be an operationally independent unit with the functions and powers specified under this Act and can institute proceedings on behalf of the Bank of Papua New Guinea for the purpose of this Act.
  2. FASU shall be comprised of a Director and officers

Source: Article 61, Anti Money Laundering and Counter Terrorist Financing Act No 20 of 2015

72. FUNCTIONS OF FASU.

(1)       The functions of FASU under this Act are to -

  • carry out financial intelligence and analysis concerning suspected money laundering and associated predicate offences, terrorist financing and proceeds of crime; and
  • monitor and enforce compliance with this Act; and
  • receive reports and information provided to it under Part II of the Proceeds of Crime Act 2005 and disseminate such reports and information in accordance with the Proceeds of Crime Act 2005 and this Act.

Source: Article 72, Anti Money Laundering and Counter Terrorist Financing Act No 20 of 2015

Comment

The Financial Analysis and Supervision Unit, an independent unit within the Bank of Papua New Guinea, is responsible for investigating money laundering in general

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