Financial Crime World

Financial Crime Prevention Strategies in New Zealand: A Comprehensive Approach

In recent years, financial crimes have become a growing concern in New Zealand. To combat this issue, the government has established a national strategy aimed at preventing and reducing financial crime. This comprehensive approach targets specific types of crime, factors contributing to cycles of disadvantage and offending, and individuals most at risk of committing financial crimes.

The Crime Prevention Action Group

Established in April 1992, the Crime Prevention Action Group (CPAG) is responsible for developing and implementing this national strategy. CPAG’s approach recognizes the complexity of antecedents to financial offending and advocates for a broad approach that takes into account the social structure and interconnections of various circumstances.

Balancing Enforcement with Societal Considerations

By balancing traditional responses such as enforcement and sentencing with considerations of societal structures, CPAG aims to create an optimal environment for reducing financial crime in New Zealand. This balanced approach ensures that the strategy is effective in addressing the root causes of financial crime while also ensuring accountability and consequences for offenders.

Targeted Interventions

The strategy is designed to prevent financial crimes through targeted interventions, including:

  • Addressing family violence
  • Reducing traffic offending
  • Combating drug abuse
  • Overcoming disadvantage faced by certain communities

By focusing on these areas, the government hopes to disrupt cycles of disadvantage and reduce the likelihood of individuals becoming involved in financial criminal activity.

Coordinated Implementation

Implementation issues are being addressed through a coordinated effort between various stakeholders, including:

  • Law enforcement agencies
  • Social services providers
  • Community organizations

This collaborative approach ensures that all aspects of the strategy are effectively implemented and that resources are used efficiently to maximize its impact.

A Positive Impact on Financial Crime

The CPAG’s comprehensive approach marks a significant shift towards a managed and strategic approach to addressing financial crime in New Zealand. This shift offers an opportunity for a positive impact on the incidence of these crimes, ultimately leading to a safer and more secure community for all New Zealanders.