THE COUNTRY OF NEVER LEARN
by PAUL L. KEBAIJA Bank of Papua New Guinea Governor Elizabeth Genia told the Transparency International PNG anti-money laundering conference at Apec Haus on 30 September that illicit funds move through banks, remitters, foreign exchange dealers, real estate, and the lawyers, accountants and company service providers. In the same speech she assured those sectors that naming them was not blaming them for the grey listing. If the channels are not at fault, and the laws have just been fixed, the obvious question is who is. Wilson Onea, director of BPNG's own Financial Analysis and Supervision Unit, told a panel at the same conference that most of the risks in the 2026 national risk assessment were already there in 2017, and that law enforcement, regulatory and policy capacity had not changed since. "Our core vulnerability is execution, and not legislation," he said. Nine years of the same risks and the same capacity is not a drafting problem. It is a choice about prioritie...




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