17 May 2016
Australia and Solomon Islands ‘follow the money’ to stop money laundering
This week, both Australia and Solomon Islands will participate in an international forum which aims to stop illicit money flowing to international crime groups and disrupt human trafficking networks.
The Bali Process – Following the Money Forum will provide an opportunity for anti-money laundering practitioners from across the Asia-Pacific region to discuss how to use financial crime tools to identify and confiscate funds from transnational crime groups and limit their ability to function.
As Chair of the Forum, Australia is leading the efforts to combat human trafficking.
“Money is the lifeblood of human trafficking groups. We need to do everything in our power to deter them, including by taking the profit out of crime,” said Australian High Commissioner Andrew Byrne.
“I’m delighted that Solomon Islands is able to join us in this global fight,” said Mr Byrne.
Solomon Islands’ representative at the Forum, Kennedy Isou from the Solomon Islands Financial Intelligence Unit (SIFIU) in the Central Bank of Solomon Islands (CBSI) said he was pleased to be involved in such an important global initiative.
“Solomon Islands takes financial crime very seriously. I’m delighted to have the opportunity to work with colleagues from across the region and discuss ways we can use our expertise to dismantle human trafficking networks,” said Mr Isou.
The two-day Bali Process – Following the Money Forum is being held in Bangkok, Thailand from 16 to 17 May.