Money laundering and gambling: the New Zealand experience

Abstract

Outlines relevant New Zealand legislation against money laundering, including the Crimes Act 1960, the Proceeds of Crime Act 1991, and the Financial Transactions Reporting Act 1996. Discusses a specific case of prosecution of a lawyer under the latter Act in 2002: this was “New Zealand Police v Samuel Devereux”, in which Devereux was convicted for failing to report suspicious transactions. Moves on to the obligations of casino owners to prevent their use for money laundering; gambling in New Zealand has grown rapidly, and there is no clear gambling policy. Outlines the provisions of the Responsible Gambling Bill 2003.

Citation

Brooks, B. (2003), "Money laundering and gambling: the New Zealand experience", Journal of Money Laundering Control, Vol. 7 No. 1, pp. 61-68. https://doi.org/10.1108/13685200410809779