[ap-intact] INFO: Alarm over appraisal of China cash transfer option for NZ

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[Facilitator's note: We are sharing this information as part of AP-INTACT's special series this week on illicit financial flows.]

China UnionPay, a money transfer system that has raised fears of money-laundering overseas, is being considered by Immigration New Zealand as an acceptable means for wealthy Chinese applicants to bring cash to New Zealand. An internal research report in 2008 by the People's Bank of China identified UnionPay cards as one of the main tools that corrupt individuals used to facilitate cross-border transfer of funds.

Read the story by Lincoln Tan, in The New Zealand Herald. http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=11400480

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