71. Is it specified that a particular institution(s) is responsible for investigating money laundering that relates to political parties, candidates and elected officials?
Kiribati
Answer
Financial intelligence unit
Source
16. There is established, within the Kiribati Police, the Financial Intelligence Unit
17. (1) The functions of the Unit are as follows:
- to receive reports of suspicious transactions issued by financial institutions and cash dealers;
- to send each report to the Attorney-General if, having considered it, the Unit decides that there are reasonable grounds for suspecting that the transaction is suspicious;
- to compile statistics and records, disseminate information within Kiribati or elsewhere, make recommendations arising out of any information received, issue guidelines to financial institutions and advise the Attorney-General;
- to create training requirements and provide training for financial institutions about transaction record-keeping and reporting obligations;
- to consult with any relevant person, institution or organisation in exercising its powers or duties.
Source: Articles 16 and 17, Proceeds of Crime Act, No 8 of 2003
Comment
The Financial Intelligence Unit is responsible in general for money laundering investigations