No quick fix to ease anti-money laundering burden

Large firms spend as much as $747,000 a year on AML compliance. (Image: Getty)

Wed, 09 Nov 2022

Businesses facing an average annual bill of $62,000 to meet anti-money laundering rules won't find any short-term relief in the government's plans to again tweak the regime. Justice minister Kiri Allan narrowed down the changes she wants in the anti-money laundering and financial terrorism legislation. But that could be some time away, with another round of consultation scheduled for next year. The response comes after the Ministry of Justice tabled a review in parliament this week which said the Anti-Money Laundering and Cou...

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