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


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