The Department of Internal Affairs has issued guidance to the real estate industry following the enactment of Regulations specific to this industry. We recommend that anyone engaged in real estate assess whether they fall under the AML/CFT regime, and if they do, ensure that they take the necessary steps to comply.
Read MoreChinese regulators have made it clearer than ever that anti-money laundering (AML) is a major priority, with the People’s Bank of China (PBOC) recently posting on its website a notice from the State Council -- the government’s main executive body -- that elevates AML to a key part of the national strategy on financial regulation.
Read MoreA vast web of shell companies is operating freely in Britain despite flagrant warning signs and documented ties to suspected money laundering, alleged bribery, and even Donald Trump’s convicted former campaign manager Paul Manafort.
Read MoreA banned Auckland finance director has been sentenced after laundering dirty money for a high-profile multi-national drug deal.
Read MoreThe Department of Internal Affairs (DIA) is aware that law firms are seeking clarification on how to meet their CDD obligations under the AML/CFT Act relating to non-clients using law firm trust accounts.
Read MoreAuckland-based money remitter Qian DuoDuo Limited, prosecuted by the Department of Internal Affairs (DIA) under anti-money laundering legislation, moved almost $95 million from China to New Zealand without having enough information to trace transactions back to the originator, a court judgment says.
Read MoreIN Armenia and Siberia there are questions about millions of dollars of missing tax. In Kazakhstan, holidaymakers are complaining about a hard-sell timeshare scheme.
These are all routine stories of crime, corruption and unethical trading published in the former Soviet Union over the last two months.
They all have one thing on common: at their very centre is the alleged abuse of a Scottish limited partnership or SLP, the corporate structure long dubbed “Britain’s home-grown secrecy vehicle”.
Read MoreThe years since 2008 have seen a global crackdown on offshore finance. Yet a few places have doubled down on offering secrecy to the super-rich. Among these, one tiny Caribbean island might be the worst offender.
Read MoreWith its luxury hotels, skyscrapers and man-made islands, Dubai projects an image to the world of an ultra-modern luxury paradise. Behind the shimmering cityscape lies one of the most secretive — and cash-friendly — money-laundering hubs in the world.
Read MoreDanske’s Estonian operations became a laundromat for more than $8 billion that was channeled into Europe from Azerbaijan, Russia and Moldova between 2007 and 2015, according to Bill Browder, the fund manager who is leading a global campaign against the Kremlin over corruption and human-rights abuses.
Read MoreRecently AML Partners sort guidance from the Department of Internal Affairs with regard to the requirements for prescribed transaction reporting for reporting entities they supervise.
Read MoreThe Department of Internal Affairs will be delaying the publication of the guideline ‘Real Estate Agents – Complying with the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML/CFT Act)’. This is in order to incorporate new regulations currently being consulted on and drafted by the Ministry of Justice.
Read MoreThe Department of Internal Affairs (DIA), an AML/CFT supervisor, is aware that law firms seek clarification how to meet their CDD obligations relating to their existing business relationships with registered banks.
Read MoreA consultancy service's actions have been questioned in court as the Government seeks to penalise a company for breaching money laundering and terrorism financing laws.
Read MoreThe Department of Internal Affairs has issued a formal warning to an Auckland-based reporting entity under the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML/CFT Act).
Read MoreThe European Banking Authority said it has opened a formal investigation into Malta’s Financial Intelligence Analysis Unit (FIAU) over how it enforced anti-money laundering rules at Pilatus bank.
Read MoreFinancial analysts and cyber-crime specialists among the new staff to crack down on trans-national organised crime in New Zealand.
Read MoreFrom the Lava Jato scandal to the Panama and Paradise Papers, time and again we’ve seen how offshore territories - often known as secrecy jurisdictions or tax havens - play a key role in facilitating the illicit flow of money across borders.
Read MoreMinisters plan changes to Scottish Limited Partnerships after finding foreign criminals are exploiting them to spend dirty money in Britain.
Read MoreWu Xiaohui appeared on Wednesday in a Shanghai court, where prosecutors accused him of defrauding Anbang of 65.25bn yuan.
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