Money Laundering

Question 1

Offence (Definition)

Answer 1

offence that is punishable under New Zealand law, including any act, wherever committed, that would be an offence in New Zealand if committed in New Zealand.

Question 2

Money Laundering (Elements)

Answer 2

Crimes Act 1961 Section 243(2)
- in respect of 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

Tainted Property

Answer 3

Criminal Proceeds Act 2009 Section 9
(i) acquired as a result of significant criminal activity; or
(ii) directly or indirectly derived from significant criminal activity; and

(b) includes any property that has been acquired as a result of, or directly or indirectly derived from, more than 1 activity if at least 1 of those activities is a significant criminal activity

Question 4

Unlawfully benefited from criminal activity

Answer 4

Criminal Proceeds Act 2009 Section 7
A person has unlawfully benefited from significant criminal activity if the person has knowingly, directly or indirectly, derived a benefit from significant criminal activity (whether or not that person undertook or was involved in the significant criminal activity)

Question 5

Suspect Interview

Answer 5

• suspect’s legitimate income
• suspect’s illegitimate income
• expenditure
• assets
• liabilities
• acquisition of financial records, from banks, financing companies, loan
  sharks, family trust documents
• clarification of documentary evidence located, as per above