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Terrorist financing

New Zealand initiatives

The New Zealand government has in place various measures to deal with the prevention and suppression of terrorist financing.

In the first instance regulations were made under the United Nations Act 1946 to implement various United Nations resolutions aimed at imposing sanctions or other measures against terrorist organisations or jurisdictions that are considered sympathetic to terrorist activity.

The Terrorism Suppression Act 2002 implements the United Nations International Convention for the Suppression of the Financing of Terrorism.

The Act also implements the United Nations Security Council Resolution 1373. UN 1373 is binding on member states of the United Nations. Amongst other things, it calls on those states to take steps to be able to “freeze without delay funds and other financial assets or economic resources of persons who commit, or attempt to commit, terrorist acts”. Most provisions of the Act took effect from 18 October 2002.

The Act prohibits New Zealanders from dealing in assets of persons who have been listed by the Government as terrorists and also prohibit the provision of funds or financial services to such persons. Anyone who suspects they are holding terrorist property will be required to report that fact to the Commissioner of Police.

The Act supersedes and revokes the United Nations Sanctions (Terrorism Suppression and Afghanistan Measures) Regulations 2001. Each of the entities that were specified entities under those Regulations are deemed to be designated as terrorist entities under the Act. The Prime Minister may from time to time designate a person or organisation as a terrorist entity under the Act. The administration of the designation process and notification to interested parties is carried out by the New Zealand Police’s Strategic Intelligence Unit (SIU) within the National Bureau of Criminal Intelligence. Contact the Strategic Intelligence Unit , Email: NBCI.StrategicIntelligenceUnit@police.govt.nz

US Executive Order

EXECUTIVE ORDER 13224 - BLOCKING PROPERTY AND PROHIBITING TRANSACTIONS WITH PERSONS WHO COMMIT, THREATEN TO COMMIT, OR SUPPORT TERRORISM

On 23 September 2001, the President of the United States issued an Executive Order authorising an asset freeze on the property of people and groups that the United States believes to be terrorists.

The United States Order does not have legal force in New Zealand. However, the United States has indicated it will penalise any institution that does not take action to support the United States, if that institution has assets in or links to the United States.

For a consolidated list of persons and entities subject to the US Executive Order go to http://www.treasury.gov/offices/enforcement/lists/.

Other international links: