Financial Crime World

NZ Authorities Unite to Combat Financial Crime

In a bid to prevent financial crime in New Zealand, key government agencies have come together under the umbrella of the Financial Crime Group (FCG). The FCG is comprised of three main units: the Financial Intelligence Unit (FIU), Asset Recovery Units (ARUs) and Money Laundering Team (MLT).

Receiving and Disseminating Financial Intelligence

FIU Overview

The Financial Intelligence Unit (FIU) plays a critical role in detecting and investigating money laundering, terrorism financing and other serious offences. The unit is based at Police National Headquarters and collects, analyses and disseminates financial information received under the Anti-Money Laundering and Countering Financing of Terrorism Act 2009.

Disrupting Organised Crime

ARUs Overview

The Asset Recovery Units (ARUs) were established to disrupt and deter organised crime with a focus on seizing criminally acquired assets. The ARUs work closely with other agencies, including Customs, Serious Fraud Office (SFO) and Inland Revenue, to investigate complex cases using forensic accountancy and financial analysis.

Combating Money Laundering

MLT Overview

The Money Laundering Team (MLT), established in 2017, investigates money laundering syndicates and professional facilitators. The team focuses on disrupting and dismantling networks that help organised criminal groups hide illicit funds.

Public-Private Partnership

FCPN Overview

New Zealand’s Financial Crime Prevention Network (FCPN) brings together key stakeholders from the public and private sectors to share knowledge and best practices in preventing financial crime. The network is chaired by the FCG and includes members from major banks, government agencies and other organisations.

Key Initiatives

  • Child exploitation
  • Trade-based money laundering
  • Virtual asset service providers
  • Trust and company service providers

Collaboration is Key

To combat financial crime effectively, authorities must work together. The FCG’s collaboration with international partners and other agencies is crucial in sharing intelligence and best practices to prevent financial crime in New Zealand.