While the poor need to be financially savvy to manage uneven and unpredictable income and expenses, this doesn’t necessarily translate into the capability to make informed decisions about the full array of financial products. Many are illiterate or innumerate, giving rise to significant consumer protection challenges especially in emerging but also in advanced economies.
This will be quite a comprehensive review. Each of us, the private sector, regulatory authorities, law enforcement authorities, and many other departments and agencies of the Fijian Government will need to show that Fiji remains a committed global partner in the fight against money laundering.