New police seizure powers announced by the Government could bring in about $25 million in illegally-obtained property, Justice Minister Kiri Allan says.
The Government unveiled new laws on Monday designed to target those at the top of gangs, with hopes there would be flow-on effects throughout organised crime.
New powers would allow the police to target the associates of organised criminal groups and restrain their property when it's clear the assets were unlikely acquired by legitimate finances.
Allan told AM on Wednesday authorities were coming for the gangs.
"The police think that, from the measures we're introducing, the total value of the property that they will acquire as a consequence of these amendments will be about $25 million per annum," she said.
"What we're trying to do, and what the police have asked for, is the ability to reach through any facade that is allowing them to hide property that is illegally obtained."
The new measures were first signalled by Poto Williams and Kris Faafoi, the former Police and Justice Ministers, back in May last year.
Other measures announced on Monday afternoon included giving authorities the power to hold seized property longer than 28 days while the court considered an application for a restraining order.
"If the police believe that is genuinely improperly gained, they can apply to the court for a forfeiture order," Allan said.
"Once that forfeiture order has been provided by the court, the State then on-sells that property."
Money in KiwiSavers would also be subjected to civil forfeiture orders, eliminating the potential for criminals to hide illegal funds in the savings scheme.
Meanwhile, an expert has said money laundering was very prevalent in New Zealand.
Dave Saunders, a partner at accounting firm Aro Advisors, said gang-related money laundering was significant.
"It can be really quite sophisticated," he told AM.
"The estimate from the Ministry of Justice suggests that it's $1.35 billion laundered through New Zealand - that's quite a big number.
"It goes on here more than we think."
Monday's announcements followed a series of measures introduced earlier this year aiming to make it easier for the police to seize weapons in gang conflicts, impound vehicles and take more than $10,000 cash found in suspicious circumstances.
Watch the video for the full interviews.
