Search

What the FATF? - by Sharon Ritchie



New Zealand is a member of the Asia/Pacific Group on Money Laundering.


That is part of the Financial Action Task Force, which conducts mutual evaluations of its members - that is, the countries look at each other's systems for finding money launderers. They tell each other what their systems are and they evaluate each other's systems to see how good they think they are at finding money launderers and bringing them to book.


The Financial Action Task Force recently produced its latest report on New Zealand. It mentions the problem with laundering through "foreign trusts". That's what it means by referring to issues about "beneficial ownership".


But nowhere does it mention the problem of laundering through orders of the employment tribunals.


Isn't that a bit of an omission? How did that happen?


We know the United Nations Convention Against Corruption was "lost" by the Ministry of Foreign Affairs and Trade.


We ask whether they also "forgot" to mention that the New Zealand tribunals and courts issue injunctions against reporting predicate crimes, both sex crimes and financial crimes, and everything connected with them.


It certainly looks like it.




30 views0 comments