New Zealand

Reset Filter

Jurisdictions

Industry Sectors

Predicate Crimes

Enforcement

Regulatory Update

6th July 2020

New Zealand forex broker Russell Maher jailed over $1.55m fraud

A foreign exchange broker who defrauded his clients of $1.55 million by using forged documents has been jailed. Russell Maher appeared today in the Auckland District Court and was sentenced by Judge Russell Collins to three years and four months’ imprisonment. The 53-year-old had been charged and later pleaded guilty… Read More

25th June 2020

New Zealand: Police Target Alleged Comanchero Money Laundering Operation

The National Organised Crime Group have disrupted a criminal syndicate allegedly involved in providing money laundering services for the Comanchero motorcycle gang. Today, three men have been arrested at properties across the Auckland region with over $650,000 worth of assets being restrained by Police as part of Operation Rider. These… Read More

24th June 2020

New Zealand’s FMA takes CLSAP NZ to court for alleged anti-money laundering breaches

The Financial Markets Authority is taking a company to court over nearly $50 million worth of transactions that it alleges breached the anti-money laundering act. The authority has filed proceedings in the High Court at Auckland against CLSA Premium New Zealand Ltd, formerly KVB Kunlun New Zealand Ltd. CLSAP NZ… Read More

23rd June 2020

NZ police seize $90 Million from Russian ‘computer genius’ Alexander Vinnik

Police have frozen $140 million in bank funds linked to a Russian “computer genius” in the largest ever restraint of funds in New Zealand police history. The money was controlled by a New Zealand registered company and has been frozen as part of a global investigation into a Bitcoin exchange… Read More

18th May 2020

Asia-Pacific drug trade thrives amid COVID-19 pandemic

Illicit drug markets in the Asia-Pacific continue to expand and diversify and appear to be largely unaffected by the coronavirus outbreak, the United Nations said on Friday. The production of methamphetamine, the most popular drug in the region, continues to hit record highs while prices fall to new lows in… Read More

6th April 2020

New Zealand broker warned over lax anti-money laundering systems

An online shares and options broker has been formally warned for its lax anti-money laundering processes. The Financial Markets Authority (FMA) issued a formal warning to NZX-accredited broker Tiger Brokers (NZ) Limited for failing to have several adequate anti-money laundering protections in place. It was one of seven businesses reprimanded… Read More

21st January 2020

Internal Affairs probes second Auckland church over cryptocurrency links

The Department of Internal Affairs (DIA) is investigating an Auckland church with links to a multi-billion dollar cryptocurrency labelled a scam. It’s the second church to be investigated by the department involving the OneCoin scheme, whose leaders have been charged with fraud by US authorities. In New Zealand, according… Read More

20th December 2019

Egrant inquiry raised red flag on money laundering by Azeri rulers inside Pilatus

Transactions at Pilatus Bank involving the daughters of Azerbaijan ruler Ilham Aliyev and the sons of his minister for emergency situations Kamaleddin Heydarov, show “commonly accepted red flags for money laundering”, a forensic review included in the Egrant magisterial inquiry concludes. On the basis of this suspicion that the… Read More

27th November 2019

New Zealand central bank plans to ramp up oversight of banks

New Zealand’s central bank said on Wednesday it was ramping up its scrutiny of banks and insurers ahead of its highly anticipated decision on raising bank capital requirements. The Reserve Bank of New Zealand’s decision to increase oversight on financial institutions comes after a number of high-profile censures of Australian… Read More

27th November 2019

ANZ bank reveals it is reviewing its money-laundering systems amid Westpac scandal

Big four bank ANZ says it launched an internal investigation of whether its anti-money-laundering and counter-terror finance (AML CTF) systems were adequate following scandals at rival banks Commonwealth and Westpac. On Wednesday ANZ said it was revealing the review, which had been under way since June,… Read More

Must Read

EFCC Arrests Jonathan’s Nigeria’s Minister, Wakil In Abuja Over Alleged PHCN Fraud

Trinidad & Tobago: FIU uncovers $27B in suspicious transactions

Businessmen accused of Ukraine money laundering gave millions to New York charities

Hawala’ racket: 700 entities under ED scanner

Australia: Clubs propose digital wallet for pokies as suspicious player activity unveiled