Vanuatu Financial Unit

Vanuatu Financial Service Unit removed from Attorney General’s Office

This is after the FIU Director has gained the power to appoint its staff.

The appointment of staff of this important institution must be based on merit.

This function was initially performed under the State Law Office through the Office of the AG.

Prime Minister Bob Loughman who presented the Bill for the Anti-Money Laundering and COunter Terrorism Financing Amendment Act No. of 2021, in Parliament earlier this week explained that objective of this amendment is to allow FIU to maintain its independence.