7. Money Laundering & Criminal Proceeds Act 2009

Question 1

Offence means:

Answer 1

Means an offence that is punishable under NZ law including any act, wherever committed, that would be an offence in NZ if committed in NZ

Question 2

Property in Money Laundering

Answer 2

Any property that is the proceeds of an offence, engages in a money laundering transaction, knowing or believing that all or part of the property is the proceeds of an offence, or being reckless as to whether or not the property is the proceeds of an offence

Question 3

The elements of Money Laundering

Answer 3

1. Respect of any property that is the proceeds of an offence
2. Engages in a money laundering transaction
3. Knowing or believing that all or part of the property is the proceeds of an offence
4. Or being reckless as to whether or not the property is the proceeds of an offence

Question 4

Tainted Property

Answer 4

Any property has, wholly or in part been
I. Acquired as a result of significant criminal activity OR
2. Directly or indirectly derived from significant criminal activity and
Includes any property that has been acquired as a result of, or directly or indirectly derived from, more than 1 activity if at least 2 of those activities is a significant criminal activity

Question 5

Unlawfully benefited from criminal activity

Answer 5

Person has unlawfully benefited from significant criminal activity if the person has knowingly, direct or indirectly, derived a benefit from significant criminal activity

Question 6

Investigate procedures

Suspect interview

Answer 6

Suspects legitimate income
Suspects illegitimate income
Expenditure
Assets
Liabilities
Clarification of documentary evidence located as per above