NEW ZEALAND: MONEY LAUNDERING LAWS EXPANDING TO REAL ESTATE SECTOR IN 2019

Baker McKenzie on 14th August reported that the sector comes under the scope of the legislation at the start of next year, which already applies to banks, finance companies, sharebrokers, and casinos.  It says that an estimated $1.35 billion from criminal activities is laundered in New Zealand annually, and property is seen as one of the prime means of hiding criminal proceeds.

http://www.riskandcompliancehub.com/new-zealand-money-laundering-laws-expanding-to-real-estate-sector/

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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