Shell Companies in New Zealand and Offshore Accounts

in Business Risk, Transnational Crime

The Justice Ministry reported that New Zealand shell companies launder and estimated $1.16 Billion (1.5 Billion New Zealand Dollars) of illicit funds generated by organized crime each year.

The Reserve Bank of New Zealand identified around 1,000 New ZealandĀ  limited partnerships and companies that may be used for money laundering activities in foreign off-shore accounts.

Source: Michael Field, “Organised crime exploiting NZ company law,” Sunday Star Times, stuff.co.nz, December 4, 2011.

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