Prime Minister James Marape has challenged law enforcement agencies, financial institutions and public officials to follow public money, enforce existing laws and recover stolen funds to show results in PNG’s fight against financial crime.
Speaking at the closing of the Second Anti-Money Laundering, Counter Terrorist Financing and Counter Proliferation Financing (AML/CTF/CPF) Conference at APEC Haus last Thursday, October 1, PM Marape said protecting public funds was essential to safeguarding the economy and the future of Papua New Guineans.
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“This conference is not simply about meeting international requirements,” he said in a statement last night.
“It is about protecting our economy, our financial system, our public money and ultimately the future of our people.”
The two-day conference, co-hosted by the Bank of Papua New Guinea and Transparency International PNG, carried the theme “Follow the Money, Eliminate the Threat”.
PM Marape said the theme must translate into investigations, enforcement and the recovery of criminal proceeds.
“Those words must not remain simply a conference slogan. They must become an instruction for action,” he said.
He stressed that agencies should act when evidence established wrongdoing, regardless of the electoral cycle.
“Election or not. Apply the law.”
PM Marape said Parliament had strengthened the legislative framework, but laws could only deliver results if the institutions responsible for enforcing them carried out their duties.
He highlighted amendments to the Proceeds of Crime Act and the passage of whistleblower legislation among reforms undertaken by his Government.
He also told delegates that the Speaker had certified the latest three legislative amendments on September 30.
These concerned the Anti-Money Laundering and Counter Terrorist Financing Act, the United Nations Financial Sanctions Act and the Criminal Code.
PM Marape said the Government remained willing to consider further legislative changes where necessary, but agencies must make effective use of the powers already available to them.
He called for stronger cooperation, information sharing and coordination between institutions, alongside action to address weaknesses in the financial system.
PM Marape urged police, the Financial Analysis and Supervision Unit, Taskforce ARROW, commercial banks and the Bank of Papua New Guinea to trace public money and act on illegal transactions.
He said scrutiny must extend beyond politicians to accounting firms, legal firms and public officials responsible for authorizing expenditure, including Section 32 officers across departments, provinces and districts.
“Just simply do your job. Follow public money,” he said.
PM Marape said investigations should follow funds into assets and pursue the recovery of stolen money through lawful processes.
He also singled out funding provided to PNG Power as an area requiring scrutiny, saying his Government had committed substantial resources to the utility and wanted the money trail examined.
The Prime Minister maintained that he had respected the independence of enforcement and regulatory agencies and expected them to fulfil their responsibilities.
PM Marape reaffirmed the Government’s objective of securing Papua New Guinea’s removal from the Financial Action Task Force grey list in 2028.
However, he said leaving the list must be accompanied by lasting improvements that would prevent the country from returning to it.
“Our objective should not be just to get PNG off the grey listing,” he said.
He said reforms must become part of the normal operation of government, financial institutions and the wider economy, rather than a temporary response to international monitoring.
He warned that economic growth would deliver less benefit to the people if money laundering and the loss of public funds continued.
PM Marape said the shift towards a digital economy should also strengthen the ability to trace transactions and hold those responsible for wrongdoing accountable.
PM Marape acknowledged the Bank of Papua New Guinea, Transparency International PNG, the Department of Justice and Attorney General and participating institutions for their work.
He also recognised Bryan Kramer, Chairman of the Parliamentary Committee on Anti-Money Laundering and Counter Terrorism Financing, stressing that tackling financial crime required cooperation across political divisions.
“Fighting crime is everyone’s business,” he said.
“It is not work for a policeman or anyone alone. It is all our business.”
PM Marape said the purpose of stronger enforcement was to protect resources needed for schools, hospitals, roads and the wellbeing of future generations.
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He reaffirmed the Government’s support for agencies to carry out their responsibilities and urged participants to turn the conference discussions into measurable action.
“Together we save our country from illegal wastes,” he said.
“Limited public funds we put to good use, and we grow our country for the better.”