Scoop has an Ethical Paywall
Work smarter with a Pro licence Learn More

Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search


Report on money-laundering systems welcomed

Hon Simon Power
Minister of Justice

23 November 2009 Media Statement

Report on money-laundering systems welcomed

Justice Minister Simon Power today welcomed the Financial Action Taskforce's 2009 Mutual Evaluation Report on New Zealand's anti-money laundering and countering financing of terrorism.

"The taskforce, alongside the Asia Pacific Group on Money Laundering, has conducted an in-depth assessment of New Zealand's legal framework, financial preventative measures, and law enforcement capability to detect and deter money laundering and the financing of terrorism.

"The Government accepts the taskforce's recommendations, and has already addressed the substantive issues the report raises through the Anti-Money Laundering and Countering of Financing of Terrorism Act (AMLCFT), which was passed last month.

"This Act recognises that effective control of money laundering and crime that leads to it needs collaboration between the financial sector and government. It's an essential component in New Zealand's ability to investigate organised crime, and to follow the money trail through financial system.

"It also goes hand-in-hand with the Criminal Proceeds (Recovery) Act, which was passed in April and can be used to attack criminal profits.

"The AMLCFT Act enables New Zealand to better contribute to the international fight against money laundering and terrorism financing. It will also ensure New Zealand's financial sector continues to be attractive to legitimate international investors, and is not seen as a safe haven for organised criminals.

Advertisement - scroll to continue reading

Are you getting our free newsletter?

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.

"It's heartening to see that the taskforce recognises New Zealand’s low financing of terrorism risk and that our law enforcement and intelligence agencies are vigilant and effective in their investigation of terrorism financing," Mr Power said.

The 2009 FATF Mutual Evaluation Report can be found on the FATF website:


© Scoop Media

Advertisement - scroll to continue reading
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On The Newshub/Smokefree Twin Fiascos

Here’s a tale of two sunset industries. One has a track record of quality investigative reporting, and sound reportage of the 24/7 news cycle. The other sunset industry peddles a deadly substance that kills and injures tens of thousands of New Zealanders every year, while imposing significant annual costs on the public health system.

Which industry is this government rushing to assist..?


ACT: New Zealand Dodges Dopey Experiment In Prohibition

“Labour’s attempted crackdown on smokers would have delivered criminal groups a near-monopoly over the cigarette trade,” says ACT Health spokesman Todd Stephenson... More

Government: Backs Police To Crackdown On Gangs
The coalition Government is restoring law and order by providing police new tools to crack down on criminal gangs, says Justice Minister Paul Goldsmith and Police Minister Mark Mitchell. “Over the last five years gangs have recruited more than 3000 members, a 51 per cent increase... More

Government: Humanitarian Support For Gaza & West Bank

Winston Peters has announced NZ is providing a further $5M to respond to the extreme humanitarian need in Gaza and the West Bank. “The impact of the Israel-Hamas conflict on civilians is absolutely appalling," he said... More

Government: New High Court Judge Appointed

Judith Collins has announced the appointment of Wellington Barrister Jason Scott McHerron as a High Court Judge. Justice McHerron graduated from the University of Otago with a BA in English Literature in 1994 and an LLB in 1996... More




InfoPages News Channels


Join Our Free Newsletter

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.