Tiger Brokers ordered to pay $900k for anti-money laundering breaches

The FMA's head of enforcement, Margot Gatland. (Image: FMA)

Thu, 29 Jun 2023

The Auckland high court is ordering Tiger Brokers to pay $900,000 for multiple breaches of the Anti-Money Laundering and Countering Financing of Terrorism (AMLCFT) Act.The company had already admitted the breaches when the Financial Markets Authority (FMA) filed its proceedings, and the parties made a joint submission for a $900,000 penalty.The FMA said Tiger had transacted $60.8 million between April 2019 and January 2020 through NZ’s financial system without proper checks and controls in place.The FMA's head of enforcement, Margot G...

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