22 Jun 2017

NZ boosts anti-money laundering initiatives in Pacific

10:50 am on 22 June 2017

New Zealand Foreign Minister Gerry Brownlee has announced a boost in funding for anti-money laundering initiatives in the Pacific.

New Zealand is sending more than $US2.6 million dollars to the Asia-Pacific Group on Money Laundering as part of a five-year plan to crack down on financial crime in the Pacific.

Mr Brownlee said terrorism financing would also be cracked down on as part of the group's efforts.

Gerry Brownlee has been Defence Minister and oversaw the Canterbury rebuild.

NZ Foreign Minister, Gerry Brownlee Photo: RNZ / Jane Patterson

He said Pacific members would be provided with legislative and technical assistance, including training staff of institutions and law enforcement officials on dealing with financial crime.

Mr Brownlee said this was also a move that would benefit New Zealand interests as well as the wider region.

"These are trans-national issues, so better compliance with standards across our region is in New Zealand's best interests," he said.

"Improved compliance will help enhance international confidence in Pacific island economies."