Here's a good article about our trust system from The Standard.
http://thestandard.org.nz/deborah-ru...oreign-trusts/
There's more good detail in comment '2', from what looks like an insider in the legal area.
The solution is simple, we collect more information from foreign trusts, and we force the few NZ lawyers who are only earning a total of $20mill a year from this despicable work, into the AML system, which must be an overseas standard.
We're already bringing up the rear. Currently NZ's rules for foreign trusts are the loosest in the OECD.
http://www.stuff.co.nz/business/indu...y+6+April+2016