Featured New Zealand

New Zealand central bank launches new enforcement department

The Reserve Bank of New Zealand (RBNZ) said on Tuesday it was expanding its regulatory resources with a new standalone enforcement department focusing on compliance in the banking, insurance and anti-money laundering sectors. The new department and the bank’s separate supervision team will work closely to achieve compliance goals, RBNZ… Read More

Auckland money laundering: police arrest 10, seize $10m in assets

Detective Inspector Lloyd Schmid said 12 warrants were carried out by the Financial Crime Group. More than $10 million worth of assets including four properties and three vehicles in St Heliers, Kumeu and New Lynn, and $200,000 worth of jewellery, were seized. Police also restrained 23 bank accounts, as well… Read More

Criminal Gangs Are Cashing in On Humanity’s Plastic Crap

Imagine for a moment the world of organized crime in Southeast Asia, and you may picture meth labs, human-trafficking rings, or the billion-dollar trade in endangered species. But lately law enforcement has noticed the oddest of goods circulating in the underworld: plastic junk such as bottles, candy wrappers and… Read More
1st March 2021
A national 80-branch real estate agency Property Brokers got the first formal warning in the real estate sector for not complying with anti-money laundering law but the chain’s chairman Tim Mordaunt said the state only was trying to make an example of them. Te Tari Taiwhenua Department of Internal Affairs… Read More
10th February 2021
Interpol issued a “red notice” alert on Tuesday to locate Paul Robert Mora, a former trader with Munich-based bank HBV who is wanted by German prosecutors in a tax fraud case. Mora’s case is part of an investigation into the so-called cum-ex… Read More
12th January 2021
AP — New Zealand’s central bank said Sunday that one of its data systems has been breached by an unidentified hacker who potentially accessed commercially and personally sensitive information. A third party file sharing service used by the Reserve Bank of New Zealand to share and… Read More
28th October 2020
Last month, The Times of Israel reported that Israel’s largest aerospace manufacturer, Israel Aerospace Industries, transferred at least $155 million in 2012-2014 to two companies that were reportedly used as a secret slush fund for Azerbaijan’s kleptocratic elite. A new report published earlier this month on Russian… Read More
15th October 2020
Police seized a Lamborghini worth nearly half a million dollars during a raid on an alleged money laundering service in Auckland. The Lamborghini Huracan, worth $450,000, was seized alongside a Mercedes G Wagon worth $280,000 and five other luxury cars. A Rayglass boat and high-end motorcycles were also seized. During… Read More
28th September 2020
Alexander Vinnik is in a world of trouble. The 40-year-old Russian is inside a jail cell in France, where prosecutors argue he is responsible for a vast criminal enterprise. His problems do not end there: US prosecutors want to extradite him to face criminal charges, while New Zealand police have… Read More
24th September 2020
A friend recommended Carmelita Roque invest her savings in Options Rider. Options Rider’s use of Australian banks gave the US Army soldier comfort her money was safe. “Seeing the money that I would be wiring would be going to a country like Australia, in my mind that was convincing enough… Read More
10th September 2020
Yesterday the government announced a support package was being established for travel agents, incentivising them to recover the money of cancelled overseas trips for New Zealand customers. Under the scheme, travel agencies will be paid 7.5 percent of the value of cash refunds and 5 percent of the value… Read More
9th September 2020
A scammer has used the Financial Market Authority (FMA) as a cover to steal from people making money transfers to China. A woman stranded in New Zealand during the first Covid-19 lockdown lost a significant amount of money after she tried to transfer funds from China to New Zealand for… Read More
12th August 2020
Reporting of potential terrorist financing has more than doubled in New Zealand since the March 15 mosque shootings. Police said people are far more vigilant when it comes to potential terrorist acts after the Christchurch attacks, which killed 51 and injured scores more. The organisation has also ramped up its… Read More