Recent cases in New Zealand and Australia highlight gaps in AML reporting systems in the casino sector.. Anti-money laundering prosecutions and settlements are making an impact, however more can be done including civil penalties or criminal liabilities for individuals in senior management roles, lower cash thresholds, and mandatory cashless poker machines.

Starting 1 January the U.S. is collecting corporate beneficial ownership information. This is a positive step that hopefully won’t drive corrupt money into New Zealand’s financial systems.

The recent sentencing of the Lidong Foreign Exchange owner demonstrates why a strong anti money laundering regime is an important tool in fighting organised crime and the need for better regulation of money exchange businesses.

Money Laundering and Corruption Report. Research published by Transparency International New Zealand investigates corruption and money laundering within Pacific Island Countries (PICs). It highlights the linkage between the two concluding that preventive and investigative systems are insufficient and not operating effectively.

The long awaited review of the Ministry of Justice’s Review of the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 was released in November 2022. It produced 215 recommendations.

An OIA by TINZ reveals that there is very little data available about the activities of trusts in New Zealand. This limited data highlights the need for more information about these arrangements to increase protection against criminals using New Zealand’s opacity to launder money and hide corruptly gained assets.