A global watchdog for money laundering and terrorist financing has found New Zealand's police do a good job seizing proceeds of crime and have a robust understanding of money laundering risks.
Impressive : Global watchdog rates NZ police efforts at seizing criminal wealth, advises software upgrade to identify money launderers
30 Apr, 2021 07:00 AM
7 minutes to read
Nearly $1m seized from a senior Head Hunter gang member involved in drug manufacture. The cash was hidden inside his bed. Photo / Supplied
Nearly $1m seized from a senior Head Hunter gang member involved in drug manufacture. The cash was hidden inside his bed. Photo / Supplied
An international evaluation of New Zealand s ability to prevent and investigate money laundering says company and trust structures are a major vulnerability, but ranks the police efforts to seize suspected criminal wealth as among the best in the world.
Police have seized more than $1 billion in assets from alleged criminals
29 Apr, 2021 07:00 AM
4 minutes to read
A Lamborghini Huracan, valued at $450,000 was seized following an investigation into alleged money laundering. The supercar is among $1 billion worth of assets restrained since 2009. Photo / Supplied
A Lamborghini Huracan, valued at $450,000 was seized following an investigation into alleged money laundering. The supercar is among $1 billion worth of assets restrained since 2009. Photo / Supplied More than $1 billion in alleged criminal wealth has been frozen in New Zealand since a powerful law targeting organised crime came into effect just over a decade ago, the Herald can reveal.