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PORT VILA, Vanatu (Port Vila Presse/PINA Nius Online) - A Vanuatu seminar on "International Project Investment Fraud" has called on authorities to tighten loopholes that make it possible for "crook" investors to enter the country undetected.

The seminar was to assist Vanuatu detect and prevent foreign investors planning fraud from setting up in Vanuatu.

Speakers included lawyer and honorary consul to Vanuatu in Switzerland Heinz Egli; Chief Justice Vincent Lunabek; and Dudley Aru, of the Vanuatu Services Commission.

Financial adviser Mark Stafford said the workshop objective was to help Vanuatu have more control in detecting and preventing crooks from entering the country.

Mr Stafford appealed to journalists who attended the seminar to be more vigilant in their reporting. Journalists should be more investigative, transparent and neutral when reporting on these issues, he said.

The seminar heard that in many cases, investors hide behind their promoters. These would lure the authorities into believe everything they had to say to promote their investors.

In his presentation, Dr Egli said there has been a long history of international project investment fraud.

And recently it was discovered that Vanuatu has become a target.

Pacific Islands News Association (PINA) Website: 

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