Critic says Government showing signs of ‘missing the point’ on AML/CFT reform

Nicole McKee and David Seymour said several announcements around AML/CFT reform would be made this week. (Image: NZME)

Tue, 08 Jul 2025

A critic of the current anti-money laundering prevention regime says the Government is showing signs of having “missed the point” with the first of its reform announcements this week.Compliance Plus director Uddhav Kirtikar, a critic of anti-money laundering and countering financing of terrorism regulations (AML/CFT), said the law already allowed banks to relax the enforcement of anti-money laundering rules like identity verification requirements.Kirtikar spent three-and-a-half years helping the Financial Markets Authority (FMA) imp...

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