ANZ gets plaudits, extra duties for admitting AML breaches

(Image: ANZ)

Thu, 27 Apr 2023

ANZ Bank New Zealand will face some extra reporting obligations to show its efforts to fix flaws in its anti-money laundering systems. But the Reserve Bank praised the country’s biggest lender for how it self-reported and fixed all the issues when it failed to report certain international wire transfers between April 2019 and September 2021 within the mandated 10-working-day timeframe. “Upon identifying the transactions that were not reported, ANZ promptly notified the Reserve Bank and remediated all issues, including, ret...

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