Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


NZ should keep its serious fraud office

Media Release 10 June 2008

NZ should keep its serious fraud office – international corruption expert

New Zealand should not abolish its Serious Fraud Office, according to international corruption expert Indira Carr, Professor of Law at the University of Surrey.

Professor Carr visited New Zealand as a guest of The University of Auckland Business School’s newly established New Zealand Governance Centre, and its Department of Commercial Law.

“It is important to have an independent specialist unit,” Professor Carr told a seminar at the Business School.

“With a separate independent unit, people know who to go to. And just as with computer crime, you need a unit with specialists who can detect and enforce, and who know what they are looking for,” she said.

Under proposed new legislation, the SFO would be disestablished and subsumed as a taskforce within the New Zealand Police. The taskforce would be located with a new Police department called the Organised and Financial Crime Agency. Public submissions are now being invited on the Serious Fraud Office (Abolition and Transitional Provisions) Bill. (Closing date is Friday 20 June.)

In the UK, most corruption and fraud cases were dealt with by that country’s Serious Fraud Office, while the Ministry of Defence also maintained a fraud squad for investigation of any serious fraud and corruption cases within the ministry. Such specialist units were essential for investigating complex corruption and fraud cases, Professor Carr said.

Also in her address, Professor Carr pointed out that different countries had adopted international anti-corruption conventions to varying levels, and questioned the degree to which these conventions could eradicate corruption.

She highlighted non-legal methods that are having some success in combating corruption, such as improvements in corporate social responsibility, education and, in the case of the Singaporean government, wage increases for civil servants.

Professor Carr said that the detrimental impact of corruption on economic development had been highlighted by international institutions such as the World Bank, the United Nations and Transparency International since the 1990s. This had resulted in the adoption of a total of nine conventions by regional, sub-regional and international bodies.


© Scoop Media

Business Headlines | Sci-Tech Headlines


By May 2018: Wider, Earlier Microbead Ban

The sale and manufacture of wash-off products containing plastic microbeads will be banned in New Zealand earlier than previously expected, Associate Environment Minister Scott Simpson announced today. More>>


Snail-ier Mail: NZ Post To Ditch FastPost

New Zealand Post customers will see a change to how they can send priority mail from 1 January 2018. The FastPost service will no longer be available from this date. More>>


Property Institute: English Backs Of Debt To Income Plan

Property Institute of New Zealand Chief Executive Ashley Church is applauding today’s decision, by Prime Minister Bill English, to take Debt-to-income ratios off the table as a tool available to the Reserve Bank. More>>


Divesting: NZ Super Fund Shifts Passive Equities To Low-Carbon

The NZ$35 billion NZ Super Fund’s NZ$14 billion global passive equity portfolio, 40% of the overall Fund, is now low-carbon, the Guardians of New Zealand Superannuation announced today. More>>


Split Decision - Appeal Planned: EPA Allows Taranaki Bight Seabed Mine

The Decision-making Committee, appointed by the Board of the Environmental Protection Authority to decide a marine consent application by Trans-Tasman Resources Ltd, has granted consent, subject to conditions, for the company to mine iron sands off the South Taranaki Bight. More>>