Local Govt | National News Video | Parliament Headlines | Politics Headlines | Search


Police restrain cryptocurrency following investigation

"Police restrain cryptocurrency following investigation into streaming service"

New Zealand Police has restrained a significant amount of cryptocurrency and other funds following an investigation by Police’s Waikato/Bay of Plenty Asset Recovery Unit.

In 2016 Police were alerted by the Inland Revenue Service in the United States to a website operated by a man based in New Zealand which was allegedly distributing a large number of copyrighted films, and laundering the proceeds.

The man and his associates were reportedly using online international money transfer services to send remittances between the USA, Canada, New Zealand and Vietnam.

An investigation commenced and in June and July of 2019, Police restrained $6.2 million in cryptocurrency and $800,000 in banked funds from the man allegedly involved, under the Criminal Proceeds (Recovery) Act.

In November a further $472,000 in cryptocurrency and $377,000 in banked funds were seized from an associate.

“New Zealand works closely with international law enforcement agencies to strengthen New Zealand’s anti money laundering approach.

"This outcome reflects the importance of these international partnerships and it also demonstrates the capability of our investigators to prevent and respond to cyber-crime and money laundering, which are often unbounded by geography, ” Assistant Commissioner Investigations, Serious and Organised Crime Richard Chambers says.

Detective Senior Sergeant Keith Kay of the Asset Recovery Unit says New Zealand Police is committed to ensuring people in New Zealand are held to account so they do not benefit from the proceeds of crime, regardless of where in the world the crime is committed.

“Introducing illicitly-obtained funds into New Zealand constitutes money laundering and Police will thoroughly investigate and restrain the assets of those who undertake such activity.”

Crimes that make money generally hurt people and Police is seeking help from the community to identify illicit proceeds obtained from crime.

If anyone has any information which would assist Police with the recovery of criminal proceeds they are encouraged to report that information in confidence either to their local Police station, or via Crimestoppers on 0800 555 111.


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On The Coronavirus Outbreak

The coronavirus – its official World Health Organisation designation is 2019-nCoV – is believed to have originated as a seafood-to-human transfer, with ground zero for the transfer believed to have been a fish market in Wuhan, China. The coronavirus is part of a family of viruses. That family includes everything from the common cold to more deadly examples like the Severe Acute Respiratory System (SARS) virus of 2002-2003, and the Middle East Respiratory System (MERS) outbreak that occurred in 2012. More>>

Published on Werewolf


Coronavirus: Health Staff To Meet China Flights

Public health staff will begin meeting flights from China from tomorrow to actively look for signs of the novel coronavirus and provide advice, information and reassurance to passengers. More>>


WINZ Quarterly Report: More People Getting Into Work

The December quarter benefit numbers released today show the Government’s plan to get people off the benefit and into work is starting to pay off,” Social Development Minister Carmel Sepuloni said. More>>


Changing lives: Boost In Whānau Ora Funding

Whānau throughout New Zealand are set to benefit from an extra three million dollars that will go directly to Whānau Ora Commissioning Agencies, the Minister for Whānau Ora Peeni Henare announced today. More>>


PGF Kaikōura $10.88M: Boost In Tourism & Business

The Provincial Growth Fund (PGF) is investing $10.88 million to boost business and tourism opportunities in Kaikōura, Parliamentary Undersecretary for Regional Economic Development, Fletcher Tabuteau announced today. More>>


Whitebaiting: Govt Plans To Protect Announced

With several native whitebait species in decline the Minister of Conservation Eugenie Sage has today released proposals to standardise and improve management of whitebait across New Zealand. More>>


Education: Resource For Schools On Climate Change

New resource for schools to increase awareness and understanding of climate change... More>>






InfoPages News Channels