Financial Crime World

Financial Crime Investigation Methods in New Zealand Take Centre Stage

A bold initiative has been launched in New Zealand to combat financial crime, protect its economy and people, and prevent terrorist financing. The Financial Crime Prevention Network (FCPN), a Public-Private Partnership (PPP), brings together key players from the financial sector and law enforcement agencies to share information and intelligence.

International Recognition

This collaborative approach is internationally recognized as essential for effectively combating money laundering. Similar partnerships have been successfully implemented in the UK and Australia, among other countries. New Zealand is not immune to the threats posed by sophisticated money laundering networks and transnational organized crime.

The FCPN: A Critical Partnership

The FCPN is led by the New Zealand Financial Intelligence Unit (NZ FIU) and comprises members from:

  • New Zealand Police
  • Customs
  • ANZ
  • ASB
  • BNZ
  • Kiwibank
  • Westpac

This critical partnership aims to dissolve barriers between the public and private sectors, facilitating information sharing and swift action to protect New Zealand.

Operations Board Meetings

The FCPN Operations Board meets monthly to discuss:

  • Current financial crime trends
  • Operational priorities
  • Developing intelligence that leverages the knowledge base of all members

Joint strategic products are also developed to inform guidance for both FCPN members and broader reporting entities.

Impact on New Zealand

The FCPN directly contributes to the New Zealand Police’s vision of being the safest country and the FIU’s goal of being world-leading. The foundation members share a strategic vision and direction, committed to building an effective network of dedicated intelligence resources to combat financial crime and money laundering.

Threat Assessment

In its latest threat assessment, the FCPN highlights transnational organized crime as a significant risk to New Zealand’s international reputation and financial system. The organization continues to work tirelessly to:

  • Prevent financial crime
  • Protect its economy
  • Keep its people safe