One money laundering regulator and a levy to rule them all

Anti money laundering rules are set for a shakeup, starting with the move to a new regulator. (Image: Getty)

Thu, 24 Oct 2024

Thu, 24 Oct 2024

The Government will introduce a single anti-money laundering regulator to replace three and wants to introduce a levy to fund it all.Some have praised the move, but others have raised questions about the levy and whether the Department of Internal Affairs (DIA) is well-suited to become the main supervisor of anti-money laundering rules.On Tuesday, Associate Justice Minister Nicole McKee said Cabinet had approved an anti-money laundering and countering financing of terrorism (AML/CFT) reform work programme that would change the supervisor struct...

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