Stephen Drain, Partner
Stephen is a Partner in PwC’s Forensic Services team, which leads PwC’s AML Practice. He specialises in the prevention, detection and response to economic crime particularly fraud, corruption and money laundering.  Stephen leads most of firm's AML engagements including developing Risk Assessments and Programmes for clients, and conducting AML reviews and audits.
He has led and investigated a wide range of financial crimes from initial investigation to final proceedings and is experienced in working discretely with boards and senior leaders to help them meet a range of challenges including suspected fraud, probity concerns and regulatory investigations.
Stephen’s early career was in the New Zealand Police and after qualifying as a detective he moved to the Serious Fraud Office (SFO) initially as an investigator and later Supervising Senior (Investigations).  After leaving the SFO, Stephen had two senior roles in leadership development, and joined PwC in 2012.
Engagements and investigations Stephen has conducted include reviewing the costs and funding of the Forsyth Barr Stadium for Dunedin City Council, corruption and fraud allegations against a supplier to Auckland Transport, investigating allegations of dishonest claiming of travel expenses against two District Court judges, investigating Barak Sope, the former prime minister of Vanuatu for corruptly providing several hundred million dollars worth of loan guarantees, and fraudulent activities in public companies including Fortex Group and Equiticorp.
Stephen also leads an Authentic Leadership development practice at PwC and has a personal leadership blog.


  • Fraud prevention and control
  • Fraud and corruption investigation and probity reviews
  • Anti money-laundering compliance and audit

Areas of Interest

  • Fraud control and investigation
  • Authentic leadership


  • Post Graduate Diploma in Business (Finance), The University of Auckland
  • Certificate in Company Direction, Institute of Directors in NZ
  • Member Institute of Directors in New Zealand
  • Professional member Human Resources Institute of New Zealand (with specialisation in Development, Training and Learning)