Police had ‘strong concerns’ over lack of register to track company ownership

Police had ‘strong concerns’ over lack of register to track company ownership
An estimated $1.35 billion from the proceeds of fraud and illegal drugs is laundered through NZ corporate entities each year. (Image: Getty)
Jem Traylen
It would have only cost $5 per company, but this “compliance burden” was one of the reasons cited for delaying a critical tool used to combat fraud and money laundering.Documents obtained by BusinessDesk under the Official Information Act (OIA) also revealed the depth of officials’ concerns about the delay, with one saying there was a risk that the work on it would be “left high and dry”.Understanding the underlying ownership or control of legal entities – known as “beneficial ownership”– en...

More Policy

Govt announces 'farmer-focused' RMA reforms
Primary Sector

Govt announces 'farmer-focused' RMA reforms

Proposed reforms cover freshwater, farming practice, mining and quarrying.

Pattrick Smellie 29 May 2025
Govt shifting consent priorities towards development
Policy

Govt shifting consent priorities towards development

The Government said it was releasing three discussion documents on the changes.

Oliver Lewis 29 May 2025
NZTA appears to deviate from four-lane highway directive
Policy

NZTA appears to deviate from four-lane highway directive

NZTA proposes reduced scope highway designs, infuriating Horowhenua locals. 

Oliver Lewis 28 May 2025
Health NZ seeks ‘partnerships’ with major health contractors
Policy

Health NZ seeks ‘partnerships’ with major health contractors

The agency is establishing a major projects panel to tackle $6.4b pipeline.

Oliver Lewis 27 May 2025