TONGA is taking a stance against money laundering as local law enforcement and regulatory authorities are meeting in a two day workshop which opened in Nuku'alofa on April 12.

The Strategic Implementation Planning Framework Workshop regarding Anti Money Laundering and Combating Terrorist Financing held at the Ministry of Revenue office is aimed at producing a strategic implementation plan to improve Tonga's legal, regulatory, financial framework regarding anti money laundering and combating of terrorist financing.

Co-hosted by the National Reserve Bank of Tonga and the Crown Law Department, the workshop was to look at improvements such as amending Tonga's laws regarding the remitting of money, and gathering information regarding financial transactions including banking transactions, foreign exchange and small loans.

The Governor of the National Reserve Bank of Tonga Siosi Mafi, in her opening address said the completion of an implementation plan at the end of this workshop would assist Tonga in its future request for assistance from the Asia Pacific Group on Money Laundering APG donors group, of which Tonga is a member.

She said that since the APG annual meeting in July last year the main development achieved by Tonga was the passing of the Money Laundering and Proceeds of Crime Amendment Act in September 2010.

Tonga needed to strengthen its awareness and appreciation on the importance of combating Anti Money Laundering and Combating Financing of Terrorists, for the stability of our financial system, she said.

"And more so now in our small and vulnerable economy that is currently facing financial and economic difficulties.

" We need to improve our communication, dialogue and share these issues and hope at the end we would come up with a realistic plan for all of us to work towards in the future," she said.

Asia-Pacific

The workshop is facilitated by Elliot Kennedy of the Asia Pacific Group on Money Laundering, Gai Lambourne and Sunny Singh from Australia's anti money laundering and counter terrorism financing regulator and specialist financial intelligence unit AUSTRAC and Stephen Francis from the Pacific Islands Forum Secretariat.

Participants includes the Solicitor General 'Aminiasi Kefu and representatives from the Ministry of Revenue, Tonga Police, Immigration Division, National Reserve Bank of Tonga and the Ministry of Labour, Commerce and Industries.

The workshop follows the adoption of Tonga's Mutual Evaluation Report conducted by the Asia Pacific Group on Money Laundering in July 2010 in which national authorities were required to improve Tonga's framework based on recommendations in the report.