Latest news with #MinistryofJustice
Scoop
13 hours ago
- Business
- Scoop
New Zealand Is Not Yet Capturing Alternative Remittance In Anti-Money Laundering Laws
Press Release – Asia Pacific AML Though New Zealands AML/CFT regime captures conventional money or value transfers that occur through a Wire Transfer, it does not capture unconventional methods of trading. Alternative Remittance New Zealand has not yet aligned its AML/CFT Act to the International Standards set by FATF to regulate Alternative Remittance Services. Countries such as Australia, United Kingdom, Canada and the USA all provide regulations that explicitly capture Alternative Remittance. The legislative frameworks of those countries also provide separate reporting frameworks to capture both Conventional money or value transfer and Unconventional money or value transfer. Though New Zealand's AML/CFT regime captures conventional money or value transfers that occur through a Wire Transfer, it does not capture unconventional methods of trading. The problem with restricting money or value transfer services to Wire Transfers is that Alternative Remittance services do not need to rely on a Wire Transfer. Nor does a method of Alternative Remittance need to 'pass through' a financial institution or involve 'cross-border'. This is where the anomaly clearly lies in New Zealand's AML/CFT Act. It is only catering to conventional money or value transfer services and not unconventional. The NZ AML/CFT Act also limits its international money or value reporting framework to a 'Prescribed Transaction'. A Prescribed Transaction is defined as a 'Wire Transfer' (section 5 of the AML/CFT Act). It is clear New Zealand's AML/CFT Act is weakened in its ability to detect or prevent the use of Alternative Remittance services that assist in the facilitation of terrorism financing and evasion of sanctions. NZ AML/CFT Act Anamoly Already Known During the 2021 Statutory Review of the NZ AML/CFT Act, the Ministry of Justice released a document and acknowledged the definition of 'Wire Transfer' did not capture 'Hawala'. (Hawala is another terminology used for 'Alternative Remittance' or 'Traditional Remittance'.) The document states – 'However, under the current definitions of a wire transfer, this type of transaction is not explicitly captured as a wire transfer, and there are accordingly no specific CDD or PTR obligations for the transaction..' Despite this recognition, no changes have been recommended to address this anomaly. Use of the term 'Money Remittance' Though the DIA AML/CFT Supervisor is purporting the NZ AML/CFT Act regulates 'money remitters', the reality is the AML/CFT Act has not yet defined 'money remittance' and nor does it define 'alternative money remittance'. The use of the term 'money remittance' without the AML/CFT regime having a definition of money remittance, is only confusing the industry. Underground Banking One consequence of New Zealand failing to provide an AML/CFT regime that captures Alternative Remittance, is the increased use of underground banking channels. As underground banking channels are where transnational criminals operate – it is time for New Zealand to plug this gap. More on this topic will be reported.
Scoop
16 hours ago
- Business
- Scoop
New Zealand Is Not Yet Capturing Alternative Remittance In Anti-Money Laundering Laws
Press Release – Asia Pacific AML Though New Zealands AML/CFT regime captures conventional money or value transfers that occur through a Wire Transfer, it does not capture unconventional methods of trading. Alternative Remittance New Zealand has not yet aligned its AML/CFT Act to the International Standards set by FATF to regulate Alternative Remittance Services. Countries such as Australia, United Kingdom, Canada and the USA all provide regulations that explicitly capture Alternative Remittance. The legislative frameworks of those countries also provide separate reporting frameworks to capture both Conventional money or value transfer and Unconventional money or value transfer. Though New Zealand's AML/CFT regime captures conventional money or value transfers that occur through a Wire Transfer, it does not capture unconventional methods of trading. The problem with restricting money or value transfer services to Wire Transfers is that Alternative Remittance services do not need to rely on a Wire Transfer. Nor does a method of Alternative Remittance need to 'pass through' a financial institution or involve 'cross-border'. This is where the anomaly clearly lies in New Zealand's AML/CFT Act. It is only catering to conventional money or value transfer services and not unconventional. The NZ AML/CFT Act also limits its international money or value reporting framework to a 'Prescribed Transaction'. A Prescribed Transaction is defined as a 'Wire Transfer' (section 5 of the AML/CFT Act). It is clear New Zealand's AML/CFT Act is weakened in its ability to detect or prevent the use of Alternative Remittance services that assist in the facilitation of terrorism financing and evasion of sanctions. NZ AML/CFT Act Anamoly Already Known During the 2021 Statutory Review of the NZ AML/CFT Act, the Ministry of Justice released a document and acknowledged the definition of 'Wire Transfer' did not capture 'Hawala'. (Hawala is another terminology used for 'Alternative Remittance' or 'Traditional Remittance'.) The document states – 'However, under the current definitions of a wire transfer, this type of transaction is not explicitly captured as a wire transfer, and there are accordingly no specific CDD or PTR obligations for the transaction..' Despite this recognition, no changes have been recommended to address this anomaly. Use of the term 'Money Remittance' Though the DIA AML/CFT Supervisor is purporting the NZ AML/CFT Act regulates 'money remitters', the reality is the AML/CFT Act has not yet defined 'money remittance' and nor does it define 'alternative money remittance'. The use of the term 'money remittance' without the AML/CFT regime having a definition of money remittance, is only confusing the industry. Underground Banking One consequence of New Zealand failing to provide an AML/CFT regime that captures Alternative Remittance, is the increased use of underground banking channels. As underground banking channels are where transnational criminals operate – it is time for New Zealand to plug this gap. More on this topic will be reported.
Scoop
18 hours ago
- Business
- Scoop
New Zealand Is Not Yet Capturing Alternative Remittance In Anti-Money Laundering Laws
Alternative Remittance New Zealand has not yet aligned its AML/CFT Act to the International Standards set by FATF to regulate Alternative Remittance Services. Countries such as Australia, United Kingdom, Canada and the USA all provide regulations that explicitly capture Alternative Remittance. The legislative frameworks of those countries also provide separate reporting frameworks to capture both Conventional money or value transfer and Unconventional money or value transfer. Though New Zealand's AML/CFT regime captures conventional money or value transfers that occur through a Wire Transfer, it does not capture unconventional methods of trading. The problem with restricting money or value transfer services to Wire Transfers is that Alternative Remittance services do not need to rely on a Wire Transfer. Nor does a method of Alternative Remittance need to 'pass through' a financial institution or involve 'cross-border'. This is where the anomaly clearly lies in New Zealand's AML/CFT Act. It is only catering to conventional money or value transfer services and not unconventional. The NZ AML/CFT Act also limits its international money or value reporting framework to a 'Prescribed Transaction'. A Prescribed Transaction is defined as a 'Wire Transfer' (section 5 of the AML/CFT Act). It is clear New Zealand's AML/CFT Act is weakened in its ability to detect or prevent the use of Alternative Remittance services that assist in the facilitation of terrorism financing and evasion of sanctions. NZ AML/CFT Act Anamoly Already Known During the 2021 Statutory Review of the NZ AML/CFT Act, the Ministry of Justice released a document and acknowledged the definition of 'Wire Transfer' did not capture 'Hawala'. (Hawala is another terminology used for 'Alternative Remittance' or 'Traditional Remittance'.) The document states - 'However, under the current definitions of a wire transfer, this type of transaction is not explicitly captured as a wire transfer, and there are accordingly no specific CDD or PTR obligations for the transaction.." Despite this recognition, no changes have been recommended to address this anomaly. Use of the term 'Money Remittance' Though the DIA AML/CFT Supervisor is purporting the NZ AML/CFT Act regulates 'money remitters', the reality is the AML/CFT Act has not yet defined 'money remittance' and nor does it define 'alternative money remittance'. The use of the term 'money remittance' without the AML/CFT regime having a definition of money remittance, is only confusing the industry. Underground Banking One consequence of New Zealand failing to provide an AML/CFT regime that captures Alternative Remittance, is the increased use of underground banking channels. As underground banking channels are where transnational criminals operate – it is time for New Zealand to plug this gap. More on this topic will be reported.
Miami Herald
a day ago
- General
- Miami Herald
Century-old graffiti found at French prison reveals forgotten occupants. See it
Building No. 7 of the Écrouves Detention Center sits abandoned on the prison property, decades after unsanitary and dangerous conditions made it unsafe to house inmates. The prison wing was set to be demolished, making room for a new building under the France Ministry of Justice. Then archaeologists found something hidden on the walls. Specialists in contemporary conflicts were interested in studying the building before its destruction because of its former use as military barracks, according to a May 28 news release from the French National Institute for Preventive Archaeological Research. The researchers conducted surveys to understand the development, alterations and transformations the facility underwent over its century-long history, including characterizing and describing the wall coverings of Building No. 7, according to the release. Some of the plasters and layers of paint were carefully and meticulously removed by scalpel and scraper, officials said, and the specialists noticed words engraved and painted under the top coats. As they peeled back the layers, they found hundreds of graffiti written on the walls. The words were names, surnames, dates, cities and towns, sometimes with illustrations for reference, according to the release. The markings were dated to between 1924 and 1928, a period between the World Wars when the facility stopped being used as a barracks and before it was a prison, officials said. Instead, the building was used as a stopping point for immigrants heading to eastern France to work in the mines and steelworks facilities, according to the release. The majority of the names are Polish, but there are also French, German, Czech, Yugoslav and Italian former residents of the buildings written on the walls. The cities and towns are likely their cities of origin, officials said. The section was built between 1913 and 1914 to house the 168th infantry regiment and later housed the No. 20 Complementary Hospital in World War I. Companies of Spanish workers were housed starting in 1939 as they strengthened France's military defense. In 1940, the barracks became an internment camp for Italian suspects, later used as a prisoner of war camp under the German occupation. Communist opponents were housed there in 1941, then Jews from Lorraine in 1942, according to the release. It closed in 1944 when Allied troops liberated the region, then was used as a transit camp for Germans being sent home from civilian internment camps in France. In 1946, the Ministry of Justice took over the site, using it as a modern-day prison. While so many have walked through the halls of Building No. 7, researchers were largely unaware of the significant number of immigrant workers staying there in between the two wars, according to the release. Over the years, the walls were painted and repainted, walls torn down and modifications made, slowly covering up the pocket of history. When excavations are completed, archaeologists will remove eight sections of graffiti-lined walls to study the written names and locations, according to the release. Écrouves is in northeastern France, about a 200-mile drive east from Paris. Google Translate was used to translate the news release from the French National Institute for Preventive Archaeological Research.
BBC News
a day ago
- General
- BBC News
Rise in assaults on Holme House prison staff
Assaults on staff at a prison were "considerably higher" in 2024 than the previous year, inspectors have said. The Independent Monitoring Board (IMB) said staff at HMP Holme House in Stockton were assaulted by prisoners 90 times in 2024, compared to 40 such incidents in said nine of the assaults last year were considered to be "serious". The Ministry of Justice (MoJ) has been approached for comment. In a report published on Thursday, the IMB said there were 324 incidents of violence among prisoners in 2024 compared to 298 the previous year. 'Substance misuse' Inspectors also found that force was used by staff on prisoners 856 times in 2024, compared to 468 times in 2023 and 268 occurrences in 2022. They also said seven prisoners were each subject to force on more than 10 occasions that year, with force used on one particular prisoner 21 times that IMB also found a number of prisoners "under the influence of illicit substances" on each day of its inspections. "Substance misuse continues to be a significant problem in the prison," the report any one time, almost half of the prison population is being helped by a non-clinical drug recovery programme, the team report revealed that of the 1,350 prisoners released from the site last year, 112 individuals had no arranged accommodation for the night of their release.
