FX trader faces civil proceedings over lack of anti-money laundering processes

Tue, 12 Dec 2017

By Sophie Boot Dec. 13 (BusinessDesk) - Jin Yuan Finance, an Auckland-based foreign exchange trader, will face civil charges under anti-money laundering law in the Auckland High Court. The FX trader, whose sole director and shareholder is Auckland-based Yuan Yuan, was issued a formal warning by the Department of Internal Affairs over its lack of anti-money laundering processes back in 2015. At the time, DIA said Jin Yuan had advised it was committed to rectifying its areas of non-compliance, and warned it would continue to monitor the bus...

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