New Zealand has a key role to play in global efforts to combat money laundering and counter the financing of terrorism, Justice Minister Amy Adams said at the opening of the Asia Pacific Group on Money Laundering in Auckland today.

About 360 delegates from around the world are taking part in the international gathering, including 41 member countries from the Asia-Pacific region and international organisations such as the World Bank, the International Monetary Fund and the United Nations.

“New Zealand is taking a leading role in global efforts to tackle money laundering and terrorist financing, and our commitment is further demonstrated as host and co-chair of the meeting,” says Ms Adams.

“This meeting is an opportunity for us to share our knowledge and ideas with other countries, as well as learn about what more we can do to improve our compliance with international obligations and best practices.”

“Money laundering is an insidious crime, and it’s becoming more challenging to detect, with international criminal networks increasingly using modern technologies and communications,” says Ms Adams. 

Ms Adams says the Government has already taken steps to strengthen New Zealand’s anti-money laundering and countering financing of terrorism laws in an effort to crack down on these crimes and improve our compliance with international obligations and best practices. 

Recent Government reforms include the Anti-Money Laundering and Countering Financing of Terrorism Act, which helps authorities to better detect and deter money laundering and the financing of terrorism.

The Organised Crime and Anti-corruption Legislation Bill, which is currently before Parliament, will also help authorities tackle money laundering and other related illicit activities including bribery and drug-related crime.

Picture: http://www.apgml.org/