PRIME Minister Hon. James Marape has reaffirmed his government’s unwavering commitment to combating money laundering and corruption, highlighting bold initiatives that set new standards for transparency and accountability in Papua New Guinea.
“We are fully committed to eradicating corruption, including money laundering at all levels,” Prime Minister Marape stated. “Our government has taken unprecedented steps to ensure financial integrity, transparency, and enforcement mechanisms that no previous government has had the political will to implement.”
Under Prime Minister Marape’s leadership, the government has established critical institutions and enforcement mechanisms to combat illicit financial activities, including:
Independent Commission Against Corruption (ICAC)
- The ICAC was established as a fully independent body to investigate and prosecute corruption without political interference.
- This milestone fulfils a long-standing national demand for an institution capable of holding public and private sector figures accountable.
Appointment of Non-PNG Nationals to Lead Key Anti-Fraud Units - For the first time in PNG’s history, the government has appointed non Papua New Guineans to lead sections of the Royal Papua New Guinea Constabulary (RPNGC), such as the Fraud and Anti-Corruption Directorate.
- This bold initiative ensures impartiality, independence, and stronger enforcement in the investigation of financial crimes, including money laundering.
Strengthening the Role of the Financial Analysis and Supervision Unit (FASU) - The FASU, under the Bank of Papua New Guinea (BPNG), has been empowered to monitor and investigate suspicious financial activities.
- This includes closer scrutiny of banks, financial institutions, real estate transactions, and international fund transfers to detect and prevent money laundering.
Collaboration with International Agencies - PNG has enhanced cooperation with international financial crime agencies to ensure greater transparency in cross-border transactions.
- Partnerships with organisations such as the Asia/Pacific Group on Money Laundering (APG) and the Financial Action Task Force (FATF) are strengthening PNG’s ability to combat illicit financial activities.
Prime Minister Marape has assured zero tolerance for corrupt practices, with high-profile investigations already underway into fraud, embezzlement, and illicit financial activities.
“My government will not allow PNG to be used as a safe haven for money laundering or illicit financial activities,” Prime Minister Marape said.
“We are taking proactive steps to track, investigate, and prosecute those involved—
whether they are public officials, business entities, or external actors attempt
ing to exploit our financial system.”
The Prime Minister issued a strong warning to individuals and businesses engaged in money laundering, tax evasion, and financial fraud.
“We are watching, we are investigating, and we will take action,” he said.
“There will be no place for financial criminals to hide. Through ICAC, FASU, and law enforcement, we will ensure that those engaging in money laundering and corruption face the full force of the law.”
Prime Minister Marape emphasised that building a corruption-free financial system is essential for PNG’s economic growth.
“We are committed to creating a transparent business environment that attracts genuine investors and protects the hard-earned resources of our people.
A robust anti-corruption framework will pave the way for sustainable economic growth and a better future for all Papua New Guineans.”
The government remains committed to strengthening legislation, improving enforcement capacity, and ensuring that financial criminals face swift justice.
“As we approach 50 years of independence, we must lay a foundation for good governance, financial integrity, and a corruption-free PNG. This is not just about today – it is about safeguarding our nation for future generations,” Prime Minister Marape said.
