$4m penalty for Auckland money shop under AML regime

Victoria Young
Mon, 14 Oct 2019

An Auckland-based money remitter has been penalised $4 million for failure to comply with recently introduced anti-money laundering laws. Justice Mark Woolford decided Jin Yuan Finance should pay $4 million following a lawsuit from the Department of Internal Affairs. The penalty compares with $5.29 million awarded against Ping An Finance and $356,000 against Qian DuoDuo, which were both also accused of not complying with the AML regime.  The case brought by the Department of Internal Affairs is the third in the AML/Counter Financing of Te...
Election 2020
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Victoria Young | Fri, 10 Jul 2020

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Retail
NZ consumers still opening their wallets; govt's cut beats forecast
Rebecca Howard | Fri, 10 Jul 2020

A solid jump in retail spending and higher-than-forecast sales tax revenue point to consumers being in good heart. Seasonally adjusted retail card spending jumped 16.3 percent in June compared to M...

Election 2020
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Victoria Young | Fri, 10 Jul 2020

Long time National Party member Michelle Boag has quit the organisation and admitted she sent patient details to opposition immigration spokesperson Michael Woodhouse.Woodhouse, in a statement, said h...

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