New Zealand: New anti-graft rules could boost reporting

Proposed rules to ramp up NZ’s anti-corruption measures, could mean that every foreign remittance worth more than NZD1,000 (USD876)could be reported to the police.

Furthermore, new regulations would require banks and financial institutions to report physical cash transactions of more than NZD10,000 (USD8,761) to the police.

New Zealand lawmakers hope the new rules will cement the country’s position as one of the least corrupt jurisdictions. Transparency International’s Corruption Perceptions Index for 2013 listed New Zealand as the least corrupt country in the world, a place it shares with Denmark.

Source: The New Zealand Herald

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s