On 29 April, Interest in New Zealand reported that the country’s latest country assessment, or mutual evaluation, has been released by FATF.  FATF points out the country doesn’t have a register of all domestic trusts (of which there up to 500,000) and suggests the Government considers introducing one.  FATF says New Zealand does well on the confiscation of proceeds of crime, but doesn’t do so well when it comes to white collar crime.  Major gaps are said to include insufficient measures to mitigate the risks posed by nominee directors and shareholders, insufficient mechanisms for authorities to obtain adequate, accurate and current company, limited partnership and trust beneficial ownership information, and insufficient measures for adequate, accurate and current information on trusts.  FATF says that New Zealand’s measures to combat money laundering and terrorist financing are delivering good results, but the country needs to focus more on improving the availability of beneficial ownership information, strengthening supervision and implementation of targeted financial sanctions.

Any modest contributions for my time and ongoing expenses are welcomed!  I have a page, where contributions start as low as $3, at

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

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s