"We have an obligation to New Zealand and to the wider international community to prevent the financing of terrorist acts."
On March 15, 2019, 29-year-old Australian Brenton Harrison Tarrant stormed two Christchurch mosques during Friday prayers and opened fire on men, women and children worshipping.
As a result of his attack, 51 people died and 40 were wounded.
This month Justice Cameron Mander sentenced him to life imprisonment without parole.
"No minimum period of imprisonment would be sufficient to satisfy the legitimate need to hold you to account for the harm you have done to the community," Mander said in delivering his decision.
"Nor do I consider that any minimum term of imprisonment would be sufficient to denounce your crimes."
There are currently 20 terrorist entities designated under New Zealand law, now including Tarrant.
Under Section 22 of the Terrorism Suppression Act 2002, the Prime Minister may designate individuals or groups as terrorist entities, on advice from officials.