Grant Robertson
MP for Wellington Central
Finance Spokesperson
MEDIA STATEMENT
31 October 2016
National dragging its feet on anti-money laundering legislation
The National Government has once again caved in to special interests and has shelved plans to introduce legislation this
year that would extend anti-money laundering requirements to lawyers, accountants and real estate agents, Grant
Robertson Labour Finance Spokesperson says.
“When the heat was on National earlier this year in the wake of the Panama Papers, John Key committed his government to
fast-tracking legislation to widen the groups covered by anti-money laundering provisions. But now with public attention
elsewhere he has quietly slammed on the brakes, and it now looks like there will be no change in the rules before the
next election.
“It seems that once again National is putting their interests ahead of New Zealand’s. As happened with earlier attempts
to tighten the rules on the foreign trust industry that were scuttled by people like John Key’s lawyer, industry
insiders are putting pressure on the government to back-off or water down proposals. This is despite the potential
damage to New Zealand’s international reputation and the concerns of government officials that we are leaving the door
open to corrupt money and individuals.
“In his review of foreign trusts earlier in the year John Shewan called on the government to pass Phase Two of the
legislation to extend the requirements by the end of this year. The government rejected that, but promised to introduce
the legislation before the end of the year, and pass it by the middle of next year. Now they are making excuses about
more consultation and discussion documents.
“The time for talking here is over. We need action to ensure we eliminate New Zealand as a destination for corrupt money
and play our part in the international efforts to fight corruption and terrorism.
“National likes to talk a big game on security, but the truth is they are exposing New Zealand here while they attempt
to appease special interests. New Zealanders deserve better, “ Grant Robertson said.
ends