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Organised Crime and Anti-Corruption Legislation Bill

Intended to bring NZ into line with international conventions. This includes requiring banks and other financial institutions to report all international wire transfers over $1000 and all physical cash transactions of $10,000 or more to the Financial Intelligence Unit within police. Given its first reading on November 4 and widely supported. Submissions closed on Feb 5 2015. The bill was reported back on May 4 with a number of amendments to the reporting regime for international transactions intended to make it less bureaucratic. Other amendments include allowing for bribes overseas to be punished by fines as well as imprisonment. It also makes clear money laundering in a foreign jurisdiction where it is not illegal is still an offence in NZ. Completed second reading on May 27 with all parties in favour though the Greens and others are pushing for bribes to cover low value “grease” payments which are currently excluded. Committee stage completed on October 21 with a Green amendment to make illegal small “facilitation” payments made in other countries by NZers voted down by National, ACT and United Future. The Government said it was happy with the “narrow” exceptions which were in line with Australian and United States law. Completed third reading divided into 15 bills on Nov 4 by 109 to 12 with NZ First opposed.  Organised Crime and Anti-Corruption Legislation Bill