2019 Financial Intelligence Unit National Risk Assessment

Published: Mon 25 Nov 2019 01:44 PM
"Police publish 2019 Financial Intelligence Unit National Risk Assessment"
This week the New Zealand Police Financial Intelligence Unit (NZP FIU) published an updated assessment of the money laundering and terrorism financing risks New Zealand faces.
The Anti-Money-Laundering and Countering Financing of Terrorism (AML/CFT) Act 2009 envisages a cooperative relationship between the private sector and government agencies to prevent and disrupt illicit use of New Zealand’s financial system.
The National Risk Assessment 2019 along with Sector Risk Assessments published by the Reserve Bank, the Department of Internal Affairs and the Financial Market Authority, form a comprehensive package of public risk assessments.
NZP FIU Manager Detective Inspector Christiaan Barnard says:
“Understanding risk is essential to understanding where we deploy our compliance and investigative resources.
"The effective deployment of these resources denies criminals the use of the financial system while maintaining New Zealand’s excellent economic reputation.
“The risk assessment continues to highlight the areas of remittance and trust or company and service providers (TCSPs) as being high risk sectors for money laundering.  The use of cash also remains central to much of the offending detected as it provides a way of anonymising the paper trail.
“The offences of drug dealing and fraud are the most common offences associated with money laundering and there is an emerging transnational element to these illicit businesses.
"New Zealand Police works closely with its international partners to stymie criminal attempts to use these networks.
“Terrorist financing remains low risk, but is a high priority for New Zealand Police due to the low probability but high impact nature of this type of offending.”
“Money remains a key driver of crime in New Zealand, which is reflected by New Zealand Police’s target of seizing $500 million in cash and assets from criminals by 2021.”
The National Risk Assessment full report can be foundhere.

Next in New Zealand politics

Health staff to meet China flights as precautionary measure
By: New Zealand Government
More people getting into work
By: New Zealand Government
Boost in Whānau Ora funding to keep changing lives
By: New Zealand Government
Kaikōura $10.88 million boost in tourism & business
By: New Zealand Government
Plans to protect the future of whitebaiting announced
By: New Zealand Government
New resource for schools on climate change
By: New Zealand Government
Regulations pave way for quality medicinal cannabis
By: New Zealand Government
What the Govt should be doing with coronavirus
By: New Zealand National Party
Government needs to front up on coronavirus
By: New Zealand National Party
Clark must explain why flights from China continue to arrive
By: ACT New Zealand
Protect Our People From 2019-nCoV
By: New Conservative
Science Deadline - This Week in Sci-Tech
By: Science Media Centre
Novel coronavirus detected in China –Expert Reaction
By: Science Media Centre
China Virus Kills 25 and Spreads Internationally
By: Richard S. Ehrlich
Coronavirus: ‘An emergency in China, but not yet global
By: United Nations
View as: DESKTOP | MOBILEWe're in BETA! Send Feedback © Scoop Media