Justice Minister Judith Collins has unveiled a range of law changes to crack down on corruption, organised crime and bribery in New Zealand.
The minister tabled the Organised Crime and Anti-corruption Legislation Bill in Parliament this afternoon.
It includes requirements for banks to report international transactions, new identity theft offences, and harsher penalties for private sector bribery and corruption offences.
Mrs Collins said the changes would give law enforcement agencies more power to deal with organised crime and corruption, and would help New Zealand fulfil its international obligations.
“New Zealand is consistently regarded as one of the least corrupt countries in the world. However we cannot afford to be complacent — we must remain vigilant,” she said.
If the bill passed into law, banks and financial institutions would have to help Government detect money-laundering by reporting all international wire transfers of more than $1000 and all physical cash transactions of more than $10,000 to the police’s Financial Intelligence Unit. [Read more…]