NEW ZEALAND POLICE RELEASES AML/CFT NATIONAL RISK ASSESSMENT

On 4th December, the New Zealand police National Risk Assessment of Money Laundering and Terrorism Financing said that trusts are “extremely attractive” vehicles for money laundering and terrorism financing, as it helps hide the identify of beneficial owners.  The government is seeking cabinet approval for policy proposals aimed at improving the transparency of the beneficial owners of New Zealand companies – but these exclude trusts from strengthened beneficial ownership requirements.  The assessment places trusts at the same level as companies and other business structures in terms of their vulnerabilities to transnational money laundering.

https://www.regulationasia.com/new-zealand-police-releases-aml-ctf-assessment/

The NRA can be accessed at –

https://www.police.govt.nz/sites/default/files/publications/fiu-nra-2019.pdf

This blog is primarily for my own use, to keep informed and up to date. However, if you would like to say thank you (and perhaps help me get a new, better laptop when I am away…) you can “buy me a coffee” at https://www.buymeacoffee.com/KoIvM842y

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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